FG Agency Sends Message to Nigerians on How to Report Loan Apps Harassing Customers

• The Federal Competition and Consumer Protection Commission (FCCPC) has issued a notice guiding Nigerians on reporting loan apps that harass customers
• This step follows reports of harassment by lenders, including sending embarrassing messages to borrowers’ contacts
• The FCCPC provides detailed steps for consumers to file complaints and ensure their rights are protected

The Federal Competition and Consumer Protection Commission (FCCPC) has issued a notice guiding Nigerians on how to report loan apps that harass their customers.

Many Nigerians rely on online loan apps for quick financial assistance; however, when borrowers fail to repay on time, some lenders resort to harassment, including sending embarrassing messages, often with photos, to their contacts.

FG Agency Sends Message to Nigerians on How to Report Loan Apps Harassing CustomersSource: Getty Images

Increasing concerns and regulatory steps

In April 2024, BBC Pidgin reported that this practice had led to serious problems, with some victims even losing their jobs due to public shame and humiliation.

By May 2024, PUNCH Online reported that the FCCPC was taking steps to block loan apps engaging in such harassment. On Friday, the FCCPC reiterated its commitment to protecting consumers by providing a guide on how to report these lenders.

How to report harassing loan apps

The FCCPC posted on X: “Are you being harassed by loan apps or unfair businesses? No consumer should live in fear! The FCCPC is here for you, ensuring your rights are protected and businesses play fair.”

Steps to report harassing loan apps:

• Email: Send your complaint to contact@fccpc.gov.ng.
• Social Media: Send a direct message to FCCPC on X.
• FCCPC Website: Log on to FCCPC website, click on Menu, then File a Complaint. Enter the required details including your complaint, the name of the loan app, contact address, phone numbers, and any relevant information. Specify your request for redress and upload files if necessary.

FG announces 50 new loan apps

TheTalk.NG reported that the Federal Competition and Consumer Protection Commission (FCCPC) has announced that the total number of approved loan apps in Nigeria is now 211 as of the end of October 2023.

The commission disclosed this in a statement signed by Babatunde Irukera, its Executive Vice-Chairman/Chief Executive Officer. According to details from the statement, the approved loan apps comprise 172 with full approval and 39 others with conditional approval, DailyTrust reports.

TheTalk.NG reports that as of September this year, the total number of companies that had been fully approved stood at 161, while those with conditional approvals were 40.

Source: TheTalk.NG

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