The Federal Competition and Consumer Protection Commission has requested that Google delete 18 more digital lending apps from the Google Play store.
According to the commission, these apps are available on Google Play without regulatory permission or are in contravention of the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (Guidelines).
It stated that only digital money lenders who have undergone regulatory inspection and compliance, as proven by official approval from it, are permitted to operate on Playstore.
Listing the deleted apps on Wednesday, the FCCPC said, “Accordingly, the Commission has entered a further order requiring Google to immediately remove, withdraw, or drawdown the following
“Getloan, Joy Cash-Loan Up to 1,000,000, Camelloan, Cashlawn, Nairaloan, Eaglecash, Moneytreefinance Made Easy, Luckyloan Personal Loan, Cashme, Easynaira, Swiftcas, Crediting, Swiftkash, Hen Credit loan, Nut loan, Cash door, Cashpal, and Nairaeasy gist loan.”
The commission further stated that compliance with its guidelines is mandatory for all digital money lenders, and failure to comply is a violation of the law.
It added that infractions or infringements may lead to permanent delisting and prohibition, as well as law enforcement action, including prosecution.
Recently, the FCCPC has been clamping down on loan apps operating illegally or/and harassing Nigerians. On July 20, 2023, it delisted some registered digital money lenders for breaking its rules.
