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- Title
Between Shaming and Cyberbullying: A Critique of Socialisation of Credit-Default in Digital Loan Schemes.
- Authors
Oyewole, OYEBADE Olumide; Nene, KHALEMA Ernest
- Abstract
Lockdown during the COVID-19 pandemic saw a closer interface between digital lenders and low-income earners in Nigeria. This study critically evaluates the paradigm shift in the traditional credit system and the culture of socialising credit default, exploring the dangers of open access to personal contacts and attendant cyberbullying under the guise of shaming. Via qualitative research methodology and judgmental sampling method, this paper analyzes data of individuals who had received various text messages that someone in their contacts had defaulted. Findings show that the traditional shaming pragmatic approach to debt recovery readily goes overboard with digital loan sharks bullying both defaulters and their contacts. Though shaming, as a debt recovery mechanism, generally poses a moral dilemma; predatory lenders ab initio explore the ignorance of beneficiaries of privacy rights, to perpetrate cyberbullying. This paper recommends awareness creation on the privacy rights of tech users, in addition to a stiffer regulatory framework for emerging digital loan schemes.
- Subjects
NIGERIA; CYBERBULLYING; LOANS; COVID-19 pandemic; COLLECTING of accounts; SOCIALIZATION; RIGHT of privacy
- Publication
Journal of African Film & Diaspora Studies (JAFDIS), 2024, Vol 7, Issue 1, p191
- ISSN
2516-2705
- Publication type
Article
- DOI
10.31920/2516-2713/2024/7n1a9