- …says it’s not a loan company, warns against unauthorised use of its brand assets
LAGOS (CONVERSEER) – PalmPay, a licensed Money Mobile Operator in Nigeria, has disclaimed a viral video circulating on social media where a student of Ogun State Institute of Technology (OGITECH), Igbesa, was arrested for allegedly defaulting on his loan refund.
The company said the two agents seen holding the student were not its staff, neither is the logo on the shirts of the supposed enforcers.
On the 13th of February 2026, popular blogger, Instablog9ja, shared a viral video on X (formerly Twitter) showing the arrest of an OGITECH student who allegedly defaulted on his loan terms.
The video showed two agents, a male and female, wearing purple shirts with “Palmpay” crested on the back, leading the said student to their vehicle, as others watched in dismay.
The video caption read: “The moment staff of a loan app company visited the Institute of Technology, Ogun State to apprehend a young man for defaulting on his loan refund.”
The moment staff of a loan app company visited Institute of Technology, Ogun State to apprehend a young man for defaulting on his loan refund. pic.twitter.com/ojF32fHT5S
— Instablog9ja (@instablog9ja) February 13, 2026
The post generated lots of reactions from Nigerians. Converseer made an article regarding that and it has long been deleted.
In a chat with Converseer on WhatsApp on Wednesday, Zainab, Public Relations (PR) Manager for Palmpay, disclosed that the said agents are not staff of Palmpay, adding that the company do not offer loans.
The PR Manager also noted that the logo shown on the shirts of the two agents in the video is not the official logo of Palmpay.
“I would like to clarify that PalmPay is not a loan company, as we do not hold a license to offer credit. While there are third-party partners on our platform that provide services such as insurance and loans, with Flexi MFB being the provider of loan services, we have consistently communicated that PalmPay itself does not issue loans and does not deploy agents for loan recovery.
“Additionally, the logo shown on the shirt referenced in the story is not our official logo, and the design and colours depicted do not align with our brand assets or uniforms. This suggests a likely case of unlawful use of our brand which has been addressed with skit makers in the past,” Zainab stated.
She further stated that Palmpay frowns at the unauthorised use of its brand assets. “We also reiterate that unauthorised use of our brand assets may attract legal action, as previously communicated,” she added.
In 2024, Palmpay issued a disclaimer, urging content creators to cease and desist from using its brand in a way that misrepresents the company’s values. Noting that, “PALMPAY IS NOT A LOAN COMPANY and any claims suggesting otherwise are entirely false.” You can read that HERE.
