Article

Mental Health Risks in Digital Debt Recovery: Insights from Nigeria's Digital Money Lending Sector

MENTAL HEALTH RISKS IN DIGITAL DEBT RECOVERY

Author(s) / Creator(s)

Oyeleke, Johnson T.

Abstract / Description

The proliferation of digital money lending, propelled by fintech innovations and data analytics, has revolutionized access to credit, particularly for the unbanked and underbanked sectors. In efforts to compel debt repayment, digital lenders resort to cyber coercion tactics, including cyberbullying, harassment, and stigmatization. While these methods may yield financial results, their psychological repercussions on debtors remain poorly understood. This study investigated the extent of psychological harm inflicted by cyber coercion tactics on the mental well-being of victims. The study employed a qualitative research design of scooping review of victims interviewed by Newspapers online. Method involved systematic searches in databases for studies on digital money lenders' impact on debtors' mental health in Nigeria, employed thematic synthesis, CASP tool for study quality, and sensitivity analyses. Extracted data using standardized forms, coded text, and developed descriptive and analytical themes. The results showed that digital money lenders in Nigeria use various stigmatizing tactics, including debt-shaming, cyberbullying, and defamation of character, to recover funds from debtors. These tactics have negative implications for the mental health of debtors, including depression, anxiety, and suicidal ideation.

Keyword(s)

Digital money lending Debt recovery tactics Debt-shaming Defamation of character Cyberbullying Harassment Stigmatization Depression Anxiety Suicidal ideation

Persistent Identifier

Date of first publication

2024-08-14

Journal title

Nigerian Journal of Clinical Psychology

Volume

14

Issue

1

Page numbers

104 - 118

Publisher

Nigerian Association of Clinical Psychologists (NACP)

Publication status

publishedVersion

Review status

peerReviewed

Is version of

Citation

Oyeleke, J. T. (2024). Mental Health Risks in Digital Debt Recovery: Insights from Nigeria's Digital Money Lending Sector. Nigerian Journal of Clinical Psychology, 14(1), 104–118.
  • Author(s) / Creator(s)
    Oyeleke, Johnson T.
  • PsychArchives acquisition timestamp
    2024-08-14T14:58:21Z
  • Made available on
    2024-08-14T14:58:21Z
  • Date of first publication
    2024-08-14
  • Abstract / Description
    The proliferation of digital money lending, propelled by fintech innovations and data analytics, has revolutionized access to credit, particularly for the unbanked and underbanked sectors. In efforts to compel debt repayment, digital lenders resort to cyber coercion tactics, including cyberbullying, harassment, and stigmatization. While these methods may yield financial results, their psychological repercussions on debtors remain poorly understood. This study investigated the extent of psychological harm inflicted by cyber coercion tactics on the mental well-being of victims. The study employed a qualitative research design of scooping review of victims interviewed by Newspapers online. Method involved systematic searches in databases for studies on digital money lenders' impact on debtors' mental health in Nigeria, employed thematic synthesis, CASP tool for study quality, and sensitivity analyses. Extracted data using standardized forms, coded text, and developed descriptive and analytical themes. The results showed that digital money lenders in Nigeria use various stigmatizing tactics, including debt-shaming, cyberbullying, and defamation of character, to recover funds from debtors. These tactics have negative implications for the mental health of debtors, including depression, anxiety, and suicidal ideation.
    en
  • Publication status
    publishedVersion
  • Review status
    peerReviewed
  • Citation
    Oyeleke, J. T. (2024). Mental Health Risks in Digital Debt Recovery: Insights from Nigeria's Digital Money Lending Sector. Nigerian Journal of Clinical Psychology, 14(1), 104–118.
  • ISSN
    0189-2304
  • Persistent Identifier
    https://hdl.handle.net/20.500.12034/10662
  • Persistent Identifier
    https://doi.org/10.23668/psycharchives.15233
  • Language of content
    eng
  • Publisher
    Nigerian Association of Clinical Psychologists (NACP)
  • Is version of
    https://doi.org/10.5281/zenodo.13311739
  • Keyword(s)
    Digital money lending
  • Keyword(s)
    Debt recovery tactics
  • Keyword(s)
    Debt-shaming
  • Keyword(s)
    Defamation of character
  • Keyword(s)
    Cyberbullying
  • Keyword(s)
    Harassment
  • Keyword(s)
    Stigmatization
  • Keyword(s)
    Depression
  • Keyword(s)
    Anxiety
  • Keyword(s)
    Suicidal ideation
  • Dewey Decimal Classification number(s)
    150
  • Title
    Mental Health Risks in Digital Debt Recovery: Insights from Nigeria's Digital Money Lending Sector
    en
  • Alternative title
    MENTAL HEALTH RISKS IN DIGITAL DEBT RECOVERY
    en
  • DRO type
    article
  • Issue
    1
  • Journal title
    Nigerian Journal of Clinical Psychology
  • Page numbers
    104 - 118
  • Volume
    14