The day I learned not to sign anything my lawyer didn't see first

Last week, my younger cousin from Enugu called me crying. She said she borrowed ₦150,000 from a microfinance bank to boost her small provision shop. They gave her papers to sign, she didn't read them. Now they are demanding ₦420,000 because of some compound interest clause buried on page four.

I told her bring the document to my chambers. I looked at it. The interest rate was 5% per month, not per annum like she assumed. And there was a clause that said if she defaults for 30 days, the entire principal plus accumulated interest becomes due immediately. She signed without understanding any of it.

I called the bank's legal team. We negotiated. They agreed to recalculate at the Central Bank rate and she will pay ₦210,000 total over six months. But my brother, if she had come to me before signing, she would have saved ₦270,000. That is the difference between knowing your rights and not knowing them. The law does not protect you if you don't know what you agreed to.