NEWS

FCCPC Vows To Clamp Down On Loan Apps Harassing Customers

Numerous Nigerians have voiced concerns over the relentless harassment by these loan providers.

By Musa Ibrahim

The Federal Competition and Consumer Protection Commission has announced plans to initiate measures to shut down loan apps that engage in harassing their customers.

Numerous Nigerians have voiced concerns over the relentless harassment by these loan providers. Yet, the commission’s acting chairman, Adamu Abdullahi, stated that steps are already underway to tackle this issue.

”It would soon be history in the country that online platforms that many people know as loan sharks, where some Nigerians access money quickly to solve urgent issues,” Abdullahi told the BBC

In March, the Nigeria Data Protection Commission disclosed its investigation into more than 400 instances of privacy breaches linked to online loan applications.

It highlighted findings indicating that these loan apps exhibit excessive intrusion. The NDPC is additionally advocating for a prohibition or limitation on mobile numbers associated with lenders responsible for compromising the privacy of their clients.

“They generally violate the principles of data protection and privacy because they have access to contacts, pictures, messages, etc. of data subjects,” the commission stated.

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