THE Federal Government of Nigeria, through the Federal Competition and Consumer Protection Commission (FCCPC), has asked Google to delete 18 digital money lending companies’ (DMLs) apps from the Play Store over violation of registration rules.
According to media reports, the Commission disclosed this in a statement issued on Wednesday, August 2, 2023, and signed by Babatunde Irukera, its Chief Executive Officer (CEO).
The Commission stated that these apps are operating on the Google Play store without regulatory approval or in violation of the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (Guidelines), adding that only digital money lenders that have regulatory scrutiny and compliance evidenced by written approval from it are allowed on Play store.
The DMLs include Getloan, Camelloan, Cashlawn, Nairaloan, Eaglecash, Moneytreefinance Made Easy, Luckyloan Personal Loan, and Joy Cash-Loan Up to 1,000,000.
Others are Cashme, Easynaira, Swiftcash, Crediting, Swiftkash, Hen Credit loan; Nut loan; Cash door; Cashpal, and Nairaeasy gist loan.
FCCPC said the aforenamed companies, although registered, will cease to operate unless they provide proof of compliance with the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022
The Commission, therefore, gave the DMLs five days to submit proof.
