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Social Good - November 14, 2021

Inside the Lies Nigerian Companies Tell their Customers Everyday

A look at failed promises, half-truths and lies by Nigerian companies.

It’s amazing how much lies Nigerian companies tell all the while smiling. The world isn’t new to this trend, but the awe it inspires doesn’t get old. Especially when find yourself stranded in the woods of branding and marketing lies.

Besides the government being the least trusted institution Nigeria, it is possible to say that the next organised body on the list will be companies. Over the years the lies Nigerian companies tell has only increased the people’s suspicion advertisements and promos aren’t always what they seem.  Let’s look at some of the biggest lies by Nigerian companies. 

False Signup Bonus

During the Big Brother Nigeria: Shine Ya Eyes reality show, savings platform PiggyVest gave out millions to housemates. This helped build goodwill for a company that offers great financial services. However, you’d expect the shock, when customers couldn’t redeem the N1000 signup bonus promised by PiggyVest. In their defence, it could be a ‘technical issue’ but when you keep getting “Redeeming is currently disabled at the moment. Please try again later” for months, it’s easy to see through the lie.

No collateral, only collateral damage

There are so many tales of woes with the lending platforms like Sokoloan, Palmcredit, Branch and Carbon in Nigeria. These bad cases where defaulters are harassed and bullied stem from a subtle lie these loan platforms tell. From the onset, all you hear is “get an easy loan in minutes, with no collateral”, but what you don’t hear that often is the collateral damage on your personal finance dues to terrible interest rates.  Or worse, defaulting for as short as a day. 

False Promos

This is easily the biggest lie Nigerian companies tell their customers. Picture an enticing promo that is all hype and no substance. Recall when GSK and Nestle were taken to court for fake promos. You can imagine all the hope that a brand wants to reward your loyalty over the years, only to discover that it’s a promo meant to take you on a wild goose chase. 

READ ALSO: 5 Funding Myths & Misconceptions Debunked

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