The Federal Competition and Consumer Protection Commission has stated that it will delist any lending application that harasses clients and has asked Google to permanently remove such apps from its app store.
This according to the Federal Competition and Consumer Protection Commission (FCCPC), is in response to the continued harassment and defamation Nigerians receive from these digital lenders. It is also a new measure implemented by the Federal Government in a bid to protect Nigerian borrowers from the activities of these digital lenders.
The FCCPC required loan applicants to register with it earlier this year. So far, the commission has granted full or provisional permission to 180 apps to operate in the country. Google also recently announced that, without regulatory approval, loan apps would be barred from its app store.
Google had also announced that loan apps on the Play Store will no longer be able to access users’ contacts or photos as of May 31, 2023.
Regardless, lending applications continued to harass customers.
The FCCPC’s Chief Executive Officer, Babatunde Irukera, stated that the commission was prepared to permanently halt the activity of these apps.
Speaking to reporters, he said “We have read the stories. But we have to investigate to make sure that the evidence truly exists.
“The consequence of this, they know it, is that if any of these defamatory messages or harassments goes out again, they will be delisted, and we will ask Google to take them down permanently. But we can’t take that kind of step without knowing for sure because what we’ve found is that the loan apps that are still doing those things are not on Google.”
He further noted that “Most of the complaints we’ve received about these things show that the companies are not on our list/ Google. They are the ones who are using WhatsApp, APK, and other softer, below-the-radar channels to engage consumers”.
Furthermore, Irukera urged consumers to take loans only from Federal Government approved loan apps since they were easier to find and sanction.
