The Federal Government (FG) has delisted another 18 Digital Money Lenders (DMLs) for operating without regulatory approval.
This was made known via a statement issued by the Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera, on Wednesday, August 2, 2023.
Irukera said the DMLs were operating in violation of the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022.
He noted that the commission had entered an order to Google to remove the applications from the Playstore.
Irukera said the order was also to prohibit payment gateways or services from providing or continuing services to the affected businesses.
READ ALSO: FG delists loan apps for violating registration rules
He listed the delisted DMLs to include Getloan, Joy Cash-Loan Up to 1,000,000, Camelloan, Cashlawn, Nairaloan, Eaglecash Moneytreefinance Made Easy, and Luckyloan.
Others are Personal Loan, Cashme, Easynaira Swiftcash, Crediting, Swiftkash, Hen Credit loan, Nut loan, Cash door, Cashpal, and Nairaeasy gist loan.
He said the commission would continue to engage Google to clarify how and why apps that had not received relevant regulatory approvals were available on its platform (Play store).
”DMLs are reminded that infractions or infringements may lead to permanent delisting and prohibition, as well as law enforcement action, including prosecution,” he said.
Irukera reiterated the commission’s commitment to ensuring legal and ethical operations in digital money lending.
He called on consumers to patronise only approved DMLs.
Minister of Power Adebayo Adelabu has urged Christians and other Nigerians to emulate the selfless…
Former United States President Bill Clinton is in a Washington hospital for testing and observation…
Lagos State Governor Babajide Sanwo-Olu has described the October 2020 #EndSARS protest period as one…
President Bola Tinubu says the recent stampedes experienced during palliative distributions across the country were…
Recovering from its previous session’s loss, the stock market opened the week bullish, as investors…
President Bola Tinubu says the tax reforms bill before the National Assembly has come to…
This website uses cookies.