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Tag: FCCPC

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

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 […]

FG bars online banks from accessing customers’ photos, contacts
Policy and Regulations

Don’t grant debtors loan, FCCPC warns digital lenders

By Wilson Adekumola   The Federal Competition and Consumer Protection Commission has admonished digital lenders not to lend money to those who failed to back their loans, describing them as chronic borrowers.   The Executive Vice Chairman of FCCPC, Babatunde Irukera, made this disclosure while featuring on an Arise Television on Tuesday, in reaction to […]

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 […]

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