Over 180 Registered Loan Apps Deleted From FCCPC Website

 At least 180 registered loan apps otherwise known as Digital Money Lenders (DMLs) has been deleted from the Federal Competition and Consumer Protection Commission (FCCPC) website. 

The FCCPC while justifying the removal, said they were removed for ‘clean-up.’

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A message on the commission website reads: 

 “The list is undergoing a clean-up and will be made available as soon as possible”.

It would be recalled that FCCPC Executive Vice Chairman, Babatunde Irukera in July 2023, while speaking on Arise News Channel, made the promise to delete apps of operators of digital lending apps who defame and harass Nigerians in an attempt to recover loans.

He had stated that once a loan app has been delisted as a to consumer harassment, there would not be a second chance.

He added that genuine people in need of the loans should not be made to suffer frustrations to get loans.

 “We would make sure that any app that is on google but defames consumers would not have the opportunity to do legal business in Nigeria anymore. You cannot, because there is a high rate of default, begin to engage inappropriate ways of recovering loans. People who truly have a problem and those who don’t fail to make a payment should not be subjected to the inconvenience of frustrations or harassment that accompanies these defamatory messages”, he said.