The Federal Competition and Consumer Protection Commission (FCCPC) has blamed Google for the inability to trace the owners of some defaulting online money lending banks over consumer rights violations.
This indictment is coming 2 weeks after the commission had ordered Google and Apple to enforce the withdrawal of these money lending applications from their stores where evidence of inappropriate conduct or use of the application in violation of the rights of consumers has been established.
This was made known by the Executive Vice Chairman/Chief Executive Officer of FCCPC, Mr Babtunde Irukera, while speaking at a collaborative engagement with journalists on Thursday in Lagos.
Irukera said that he considered the development a potential threat to key national interest, adding that once Google uses its play store as a platform for that kind of app to operate, there is a problem.
Executive Vice Chairman of FCCPC insists on holding Google responsible
Irukera said, “No company, no matter what benefit they bring should have that prerogative or opportunity of being that anonymous.
“And that is the problem we are dealing with. So, we must hold the big ones who are making a tonne of money from our citizens responsible.
“If we can hold them responsible and they become liable for that kind of conduct, then we can cascade down and we can talk to Instagram that if anyone is going to sell stuff on your platform, there must be certain information that must be available.
“You cannot provide those platform, make your money and look the other way while people who come on that platform exploit people and people are stuck.
“There has to be a level ground for everyone. In the absence of that, even your business itself is an exploitation. If you are not the exploiter, you are at least ceding the platform to exploiters to exploit people.”
FCCPC to work with law enforcement in the United States on this
- Irukera noted that it is easier to hold Google responsible for those individuals behind the online money lenders.
- He said the commission might need to work with law enforcement in the United States, to get them come up with the information needed to get those behind the digital lenders.
- The FCCPC boss said, “We have our counterparts there and we will use our counterparts to say to Google that you are not welcome in this country if we cannot find you; that a regulator cannot engage you when your platform is used to exploit people.
- “No! You are not welcomed. You are absolutely unwelcomed if your platform can be used to exploit the people and the regulator could not prevent that exploitation.
- “Therefore, you are absolutely unwelcomed. And I have absolutely no apologies for saying that about Google.”
Inability to contact Google
Irukera expressed frustration over the inability of the commission in contacting Google while trying to pull out apps from the Google Store.
He said, “I find that extremely reprehensible and shameful of a company the size and magnitude with Google, that you are hardly where you can be found.
“It is the height of reckless irresponsibility. That a company with a brand and a name like Google and so I intend to hold Google accountable.’’
In case you missed it
- Recall that on March 11, the Federal Government in a raid through its joint committee investigating rights violations and unfair practices shut down some illegal online money lending banks for not registering with the Corporate Affairs Commission (CAC) and engaging in activities against the rights of Nigerian consumers.
- These online banks charged interest rates that violate the ethics of how lending is done and were involved in naming and shaming which is a violation of people’s privacy with respect to how these lenders recover loans, among other violations
- The lending companies offer short-term loans to help subscribers meet urgent needs, but resort to unprofessional measures of harassment, cyberbullying, and breach of data privacy of their customers who may have defaulted in loan repayment.
- Some of the affected online money lending banks include; GoCash, Okash, EasyCredit, Kashkash, Speedy Choice and Easy Moni.
I know of one loan sharks along that kudirat Abiola way that is still working there office is at irorun plaza 4th floor these people are not good at all there was a time I want for a proposal at one of the office in the building you can’t imagine the words coming out of some of their collectors can make someone have heart attack please federal government should please do something about there.
I honestly commend your good work, u re really the voice of the people, u can’t imagine how they are extorting money from Nigerians, somebody called me cos of a short loan and was telling me rubbish.
I believed Google will.respond soon as I also believed they read user reviews on how the loan sharks violates customers right and even lies to Google that they gives out loan for 91 days while it’s just 7 days, I would also use this opportunity to in report an app named skrill to the federal government for making it difficult for users to claim their money once you are sent money they will never let you claim it as they will always reject all documents you provide am a victim and my money is stocked there as they always rejects my bank statement even when all the information in my bank is what I used in registering with them and I passed the KYC yet I can’t claim my money
Fccpc is not serious at all. They don’t even need Google to frustrate these illegal companies. Engage the EFCC and banks. Let them trace the company bank accounts that receive these money. Freeze the accounts and go after the account holders. Victims usually have accounts they pay money into. Fccpc should invite paystack, wema bank, sterling bank and others.
Exactly my point. Banks know these loan shark app owners… FCCPC should use the bank to go after them
Nigeria is very hopeless and full of bunch of useless leaders.
So, we are now blaming Google for our own shortcomings!
These online, she they all have accounts with all the major commercial banks? So the banks doesn’t have their information!
Secondly, most of them are not just operating as an online loan vendor, they are mostly micro finance banks or other CAC registered company.
Nigeria leaders should be wise and meaningful for once na!
Just as we are talking now, they are still sending damming messages to their customers contacts and still boosting that they will do more.
This is getting worst everyday, the Federal government should please do something about this loan app, there threat and invading contacts calling customers, relatives and friends. And also lying against someone that i make my friends a guarantor. Imagine the embarrassment, alot of people are committing suicide just because of the wicked and devilish act.