The Federal Competition and Consumer Protection Commission has threatened to inform Google to permanently delete digital money lending applications in the habit of harassing and publishing libelous content about their borrowers. The consideration to implore Google to delete these apps from its Play Store was publicly disclosed by Chief Executive Officer of FCCPC, Babatunde Irukera, in an interview with Arise TV on Tuesday, July 11 2023.
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The Federal Competition and Consumer Protection boss stated that while these digital lenders are welcome to do business in the country, those in the habit of harassing their consumers will be promptly and thoroughly dealt with. He also advised the loan apps to exercise restraint and not lend money to "chronic borrowers". Mr Irukera further urged these digital lenders to devise more dignified and humane ways to retrieve their money from defaulters instead of resulting to slander or libelous content. In his words: "Most of the people who are failing to pay back these loans are chronic borrowers. So, if you have a problem of paying back your obligation, you should not have the opportunity to borrow again."
Well it is not really their fault but the defaulters that pushed them to the wall.
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