FCCPC Report Reveals 37 Illegal Loan Apps Delisted
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The Federal Competition and Consumer Protection Commission (FCCPC) has released a new report indicating a significant increase in the number of delisted loan apps, jumping from nine to 37, Readership NG reports.
In addition to this, the report reveals that the total count of fully approved loan apps has risen from 154 to 164 since the last update. Interestingly, there has been a decline in the number of loan apps with conditional approval, down to 38 from 40.
Furthermore, the FCCPC’s watchlist now encompasses 56 apps, up from the previous figure of 20.
These developments follow a concerted effort by the FCCPC to bring about major changes in the digital money lending sector, driven by concerns over harassment of Nigerians by lending platforms.
The FCCPC noted that Google has permanently removed the delisted loan apps from the Play Store. Some of the apps included in this list are Swiftkash App, Hen Credit Loan App, Cash Door App, and many others.
