Tag
LOAN APP
The number of companies approved to provide loans to Nigerians through digital platforms popularly known as loan apps has surged to 380 this February from 320 in October last year.
A new study conducted by SBM Intelligence reveals that 27% of Nigerians across different income categories now resort to loan apps to keep up with their expenses in the wake of record inflation.
The number of companies with full approval to operate as digital money lenders, otherwise known as loan apps, in Nigeria has increased to 161.
Some agents working for loan apps, which include Palmcredit, Easybuy, Xcrosscash, and Newcredit, have shared some sordid tales of how their employers allegedly made them start disbursing loans to people that never applied nor requested loans and would later begin to harass them for repayment with interest.
Google has introduced a new policy banning Nigerian loan apps from accessing photos and contacts of their users.
A total of 173 companies have been approved by the FCCPC to provide digital lending services in Nigeria.
FCCPC has again shifted the deadline for the registration of Digital Money Lenders, otherwise known as loan apps to March 27, 2023
The Nigerian fintech space is growing exponentially, attracting the attention of both foreign and local investors and drawing...