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Tag: FCCPC

Sacked-FCCPC boss confident employees will fight for fair markets
Business

Sacked-FCCPC boss confident employees will fight for fair markets

A recent and notable achievement was the imposing of a $110 million penalty on British American Tobacco Nigeria for violating the FCCPC Act. The former executive vice chairman of the Federal Competition and Consumer Protection Commission, Babatunde Irukera, stated that he left an outstanding staff at the agency to work for the cause of fair markets. Irukera […]

FG advocates for strict regulation of tobacco industry
News

British American Tobacco to pay Nigeria $110m over infringements – FCCPC

The Federal Government said that British American Tobacco, Nigeria Limited and its connected organizations will pay a $110 million penalty for infringements. The Federal Competition and Consumer Protection Commission announced this in a statement shared on its X page on Wednesday, following the Commission’s lengthy infringement against BAT and its associated organizations. For BAT Parties […]

Loan apps: FCCPC to address rising debt with new policy
Business featured

Loan apps: FCCPC to address rising debt with new policy

The Federal Competition and Consumer Protection Commission announced plans to create a new regulatory framework to address Nigerians’ growing reliance on digital money lenders, often known as loan apps. The Commission’s Chief Executive Officer, Mr. Babatunde Irukera, revealed this on Monday while appearing on a TVC live program. Irukera stated that debt to DMLs has become […]

Loan apps: FCCPC to address rising debt with new policy
Business

FCCPC releases list of approved loan apps in Nigeria

The Federal Competition and Consumer Protection Commission has updated its list of 154 businesses to which it has granted full permission to run loan-app businesses nationwide. The Commission removed the older list of permitted firms from publication for a “clean-up.” Still, the current list, which was just posted, is more comprehensive because it includes the apps that […]

Students' loan scheme to be launched in three weeks - Gbajabiamila
News

FCCPC orders Google to remove Swiftcash, Easynaira, other loan apps

The Federal Competition and Consumer Protection Commission has issued an order requesting that Google remove Swiftcash, Easynaira, and 16 other lending apps from the Google Play store immediately. The Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending were broken, according to the Commission, which claimed to have just learned this in a statement signed by […]

Loan apps: FCCPC to address rising debt with new policy
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FCCPC deletes all approved loan apps

The list of all approved loan applications, also known as Digital Money Lenders, has been removed by the Federal Competition and Consumer Protection Commission from its website. According to Nairametrics, the list, which contains the names of more than 180 loan applications that have been registered in the country, was allegedly removed for “clean-up.” The FCCPC website […]

Loan apps: FCCPC to address rising debt with new policy
News

FCCPC to crack down on trade groups over fixed prices

The Federal Competition and Consumer Protection Commission announced on Tuesday that it would soon start enforcing legislation across the country to stop trade associations from participating in price-fixing and cartel-like behaviour. The Commission claimed that this action would begin with the group of PoS agents, who recently announced an increase in transaction fees. This was revealed by the executive […]

Loan apps: FCCPC to address rising debt with new policy
News

Registered loan apps use alternative channels to harass debtors – FCCPC

The Federal Competition and Consumer Protection Commission have conducted investigations that have shown that some licensed and authorized digital money lenders, also known as loan apps, are using other ways to carry on with their illicit activities. According to the Commission, the businesses in question are Purple Credit Limited and Sycamore Integrated Solutions Limited. The […]

FCCPC to shut loan apps over harassment
News

FCCPC to shut loan apps over harassment

The Federal Competition and Consumer Protection Commission has stated that it will remove any loan applications that harass users and asked Google to remove such applications from its app store. This was in response to the ongoing harassment and defamation meted out by these digital lenders to Nigerians. The FCCPC required loan applications to register […]

Loan apps: FCCPC to address rising debt with new policy
News

FCCPC sets rules for registering loan apps deleted by Google

The Federal Competition and Consumer Protection Commission has established requirements for loan apps that have been removed from the Google Play store in order to be registered by the Commission. Nairametrics reported that FCCPC announced this at the same time that it has resumed registration of digital money lenders after closing it on March 27, 2023, following […]

Why competitive market is best for consumers - FFCPC
News

Why competitive market is best for consumers – FFCPC

The Federal Competition and Consumer Protection Commission’s Executive Vice-Chairman and Chief Executive Officer, Babatunde Irukera, has stated that the competitive market is the best market for consumers. According to Arise News, Irukera asserted during an interview that a competitive market offers variety, fair pricing, innovation, and the assurance that you received what you wanted for the best […]