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HomeBUSINESSInfinity Microfinance Bank: A Den of Fraud & Slave Masters
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Infinity Microfinance Bank: A Den of Fraud & Slave Masters

The era of pre-independence slave trade might have gone, but many Nigerians are still subjected to some indirect slavery of sort in their fatherland, mostly from crooked and shrewd employers. One of such employer is Mrs Clara Oloniniyi, the Managing Director of Infinity Microfinance Bank Ltd, located at 580 Kosofe bus stop, Ikorodu Road, Lagos.

An exclusive investigation on the modus operandi of the bank and its lacklustre treatment of staff reveals colossal violations of human right and fraudulent acquisition of wealth.

For about 19 years now, Mrs Oloniniyi and her husband, Pastor Tope Oloniniyi, who studied Actuarial Science at Ahmadu Bello University, Zaria have been fraudulently living on the sweat of many innocent Nigerians.

At Infinity Microfinance Bank, a new employee would be given a tempting offer, but would only get the complete payment between one or two months, after which the salary will be slashed to two. Apart from the fact that all staff are paid half of their due respective salaries monthly, virtually all the employee that have left the company (either by resignation or sack) are being harassed, tortured and detained in police cells.

Obviously running a smooth relationship with some officers of the Alapere Police Station, any staff on the black book of Mrs Clara Oloniniyi would be unjustly locked up in the police station’s cell for days, and be compelled to sign an obnoxious undertaking to be refunding money to the bank every month. A senior staff of the Alapere police station (names withheld) is on the payroll of the bank, and his task is to carry out the orders of Mrs Oloniniyi.   

“Trust me, every staff of this bank are dying in silence. Once you are sacked from work, you will be forced to repay the loans of customers you were handling. Meanwhile, they would still recoup the loan directly from such customers. That is after they would have detained the staff in police cell for several days. Labour unions and other human rights organisations need to beam their searchlight into the activities of this bank,” a staff who craved anonymity squeals.  

Mrs Clara Oloniniyi studied at the Yaba College of Technology (Yabatech) Lagos after she finished from Ijaiye Ojokoro High School. Her union to Pastor Tope Oloniniyi is blessed with two kids; a boy and a girl.

Mr Oloniniyi on the other hand is the MD/CEO of MIP Financial Solutions Limited. He has Masters Degree in Banking and Finance from the University of Lagos. He attended Offa Grammar School, Offa.

Mr Oloniniyi has a stint with the Lagos State government, where he made the fortune invested in the financial businesses he and his wife are running. More shocking details later.     When our Correspondent called Mrs Oloniniyi on phone to hear her side of the story, she claimed to be busy at work. A follow up call was also made to her, but she declined to comment.

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