In a bid to protect Nigerian consumers from harassment and exploitation, the Federal Government has announced its decision to delist two registered loan apps and unveil a list of illegal, unregistered digital money lenders operating within the country.
The Federal Competition and Consumer Protection Commission (FCCPC) made this announcement on Thursday, reinforcing its commitment to safeguarding the interests of Nigerian citizens.
According to the Executive Vice Chairman/Chief Executive Officer of FCCPC, Babatunde Irukera, digital money lenders who have refused or failed to register under the guidelines will now be placed under strict surveillance, and necessary actions will be taken against them.
“The commission has also placed digital money lenders that have refused or failed to register under the guidelines on its watchlist for strict surveillance and necessary action,” stated Babatunde Irukera in an official statement.
He further emphasised that the list of these unregistered digital money lenders would be published on the commission’s website, warning consumers to exercise caution when dealing with such lenders.
To protect consumers from falling victim to illegal and prohibited lending and recovery practices, Irukera urged Nigerians to patronise only those digital money lenders on the approved list.
Great news
At least am save from loaning unnecessary Money