“It is no longer news that a section of Nigerians have over the years been exploited and subjected to ridicule by illegal loan apps after signing on to these apps’ services. ”But this is about to end with the decision of the Federal Government, through the Federal Competition and Consumer Protection Commission (FCCPC), to put an end to the development by approving 173 loan apps. “It is good to know that apps that are not approved by the Federal Government would be taken off Play Store by Google and be unavailable for downloads. “We invite Nigerians to know that the move is in line with the demonstrable commitment of the Buhari administration to protect the average Nigerian from exploitation. “We are hopeful that the regulators will ensure proper enforcement of the necessary laws to ensure that the approved lending apps accord Nigerians seeking their service, the respect they deserve,” the group added.

Source: The Guardian April 06, 2023 15:23 UTC