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 formal approval from it, are permitted to operate on Playstore.
Today, the FCCPC said of the deleted apps, “Accordingly, the Commission has made a supplementary order requiring Google to immediately remove, withdraw, or drawdown the following apps:
“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 also stated that all digital money lenders must follow its recommendations, and failing to do so is a violation of the law.
Infractions or infringements, it added, may result in permanent delisting and restriction, as well as law enforcement action, including prosecution.
The FCCPC has recently cracked down on lending apps that are operating illegally or abusing Nigerians. It delisted several registered digital money lenders on July 20, 2023, for violating its guidelines.
