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The Federal Competition and Consumer Protection Commission (FCCPC) announced plans to block loan apps that harass customers. The consumer protection agency has received numerous complaints about aggressive tactics used by loan sharks to recover debts.
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Citizens’ Gavel, a consumer rights organization, filed similar complaints months ago, urging authorities to take action against approximately 30 unlicensed digital money lenders. According to Citizens’ Gavel, these lenders often resort to “crude, unprofessional, and illegal means” to collect debts, including defamation, cyberbullying, and even death threats.
Adamu Abdullahi, the FCCPC’s acting chairman, confirmed that the agency is addressing these issues, with over 400 cases of privacy breaches involving online loan apps currently under investigation. “It will soon be a thing of the past in the country for online platforms known as loan sharks to operate unchecked,” Abdullahi told the BBC. He noted that investigations have shown that “loan apps are overly intrusive.”
The Nigeria Data Protection Commission (NDPC) is also considering banning or restricting mobile numbers used by lenders to breach customer privacy. “These apps generally violate data protection and privacy principles by accessing contacts, pictures, messages, and other personal information,” the commission stated.
This initiative aims to protect consumers and enforce ethical practices in the digital lending sector in Nigeria.
