A  middle-aged woman, known as Mama Dada, has reportedly set herself ablaze in her rented apartment over her inability to offset a loan of N70,000 she took from a microfinance bank popularly known as LAPO.

         Topnaija gathered that the deceased got burnt beyond recognition as the entire building located at the Oke-Keesi, Itoko area of Abeokuta.

  LAPO is known for lending money to traders and other small-scale business owners with specific instructions for repayment plans.

     An eyewitness, Bolanle Ajayi, a resident of the area, said that the woman killed herself after she was unable to pay back a loan she took from LAPO.

     She said, “I was told that she obtained the loan running into N70,000.” A former member of the LAPO group, who identified herself simply as Mrs Adeogun said an ‘unprecedented embarrassment’ will befall anyone who refuses to pay back the borrowed money from the bank at the set date. “If you refuse to pay them back at the set date, you will be treated like trash, you will be embarrassed in a big way, in a manner that your children will forever be ashamed of. I know what I am saying, I used to be a member. “One must be a member and a committed one before you will be given a reasonable amount of money. “What they do is that you will join the group and start making thrift with them, it is the evidence of this thrift through your card that will qualify you for a loan which you must either pay back outrightly or in batches. “But either in batches or outrightly, there is always a set