The Federal Competition and Consumer Protection Commission (FCCPC) has declared its intention to remove any loan application that engages in customer harassment and request that Google permanently delete such apps from its app store.
This decision comes as a response to the ongoing harassment and defamation faced by Nigerians at the hands of these digital lenders. It represents the latest measure implemented by the Federal Government to safeguard Nigerians from the activities of these lenders.
Earlier this year, the FCCPC mandated loan apps to register with the commission. To date, 180 apps have received full or conditional approval from the FCCPC to operate in the country.
Additionally, Google recently announced that loan apps would not be permitted on its app store without regulatory approval.
In April, Google further announced that loan apps on the Play Store would lose their ability to access users’ contacts or photos starting from May 31, 2023.
Despite these measures, loan apps have persisted in their harassment of customers.
Babatunde Irukera, the Chief Executive Officer of the FCCPC, emphasized that the commission is prepared to permanently shut down the operations of these apps.