The Federal Competition and Consumer Protection Commission (FCCPC) in Nigeria has vowed to clamp down on loan applications that harass customers, including asking Google to permanently delete these apps from its app store.
The FCCPC made this announcement in response to ongoing complaints of the continuous harassment and slander by digital lenders in the country.
Nigerians complain of receiving calls from these lender companies threatening them over a loan collected by others on their contact list.
The move is part of the government’s efforts to protect Nigerians from the activities of these lenders.
To ensure compliance, the FCCPC has made it mandatory for loan apps to register with the commission. Currently, 180 apps have received approval, either in full or conditionally, to operate in Nigeria.
Furthermore, Google recently stated that loan apps would not be allowed on its app store without regulatory approval. In addition, starting from May 31, 2023, loan apps on the Google Play Store will lose the ability to access users’ contacts or photos.
The CEO of the FCCPC, Babatunde Irukera, emphasized the commission’s commitment to permanently shutting down the operations of these apps.