We Are Making Arrangements To Clam Down On Loan Apps — FCCPC

Post created on 4:31 pm

With various complaints from men and women who have been harassed by online loan apps the Federal Competition and Consumer Protection Commission, FCCPC has vowed to clamp down on those apps.

Speaking in an interview, the acting Chairman of the FCCPC, Adamu Abdullahi said though it is not in their jurisdiction to bring down the loan apps the harassment of customers who tend to default on payments is disturbing.

These loan apps are referred to as Loan Sharks where Nigerians borrow a small amount of cash to solve issues, are fun of posting burial pictures, and calling friends and family members with threats to life and property which have caused many of their jobs and bad reputation in the public eye.

However, the boss of FCCPC, said there is a collaboration between the EFCC and other securities agencies to arrest since the apps work online and do not have a virtual office.