Tag
LOAN APPS
The Nigerian Communications Commission (NCC) has issued a stern warning to loan app companies and telemarketers over their unauthorized usage of people’s phone numbers for commercial activities.
The FCCPC has released a fresh list of 154 companies it has given full approval to operate loan apps in the country.
FCCPC has deleted the list of all approved loan apps, otherwise known as Digital Money Lenders from its website.
Digital lending platforms have found themselves in the spotlight following the continuous defamation and harassment of customers despite efforts by FCCPC to regulate their practices.
The harassment and defamation of borrowers from digital lending companies, popularly known as loan apps, is far from over despite the recent regulatory moves by the Federal Competition and Consumer Protection Commission (FCCPC).
The co-founder of Carbon said denying loan apps access to their customers’ contacts and photos will affect the business negatively.
A total of 131 digital lending companies have been registered and given the approval to operate in Nigeria.
Nairametrics took a look at 10 of the most-downloaded loan apps in Nigeria and the interest rates they offer. This is what we found below.
Prof. Bongo Adi of the Lagos Business School said that the proliferation of digital lending companies is pushing more Nigerians into poverty.
The Federal Competition and Consumer Protection Commission (FCCPC) has approved the operations of 94 companies as digital money lenders in Nigeria
Google says the policy applies to apps that offer loans directly and those that connect consumers with third-party lenders
Although there have been complaints that the interest rates being charged by some of these are too high, it has not stopped many Nigerians from patronizing them