NewStats: 3,263,805 , 8,181,451 topics. Date: Sunday, 08 June 2025 at 01:00 AM s4h6f

The Federal Government through the Federal Competition and Consumer Protection Commission has said it will release a list of illegal (uned) digital loan apps operating in Nigeria.

It also said it would delist two legal (ed) loan apps from Google Play Store for harassing Nigerians.

According to the FCC on Thursday, it had added digital money lenders that had refused or failed to under its guidelines on its watchlist for strict surveillance and necessary action.

In a statement signed by the Executive Vice Chairman/ Chief Executive Officer, Babatunde Irukera, the FCC said, “The commission has also placed digital money lenders that have refused or failed to under the guidelines on its watchlist for strict surveillance and necessary action.

“The list of those digital money lenders will be made available on the commission’s website.

“The Commission will continue to scrutinise listed DMLs and periodically update the list to ensure only businesses that consistently and completely comply with the spirit and intention of the regulatory framework are allowed to do business legally in Nigeria.”

It advised Nigerians to exercise restraint and discretion in selecting digital money lenders and specifically, recommended that consumers only patronise digital lenders on its approved list to avoid falling victim to illegal and prohibited lending and recovery practices.

Commenting on the permanently delisted digital lenders, the FCC listed them as Sycamore Integrated Solutions Limited and Orange Loan, and Purple Credit Limited, along with their respective apps — ‘Getloan’ and ‘Camelloan.’

It stated that it came to this decision after investigating the apps.

The commission said, “In the course of the commission’s continuing investigation and tracking of these illegally operating digital money lenders, the commission has discovered duplicity by at least two otherwise legally ed digital money lenders on the commission’s approval list.”

It noted that the firms had also engaged in the use of APK to attract borrowers to a process and practice that is illegal and unregulated.

About 180 loan apps have been ed (partially or fully) and approved, by the FCC, to operate in Nigeria.

https://punchng.com/fg-delists-loan-apps-vows-more-clampdowns/?amp

***Yawns

Good move

How many times will they do this? How many times will they ban them? Yet, these loans apps still operating on play store.

Pls delist okay cash

Delist those expecting huge interest in 7 days. Repayment days should be a month at least.

Fg is useless.
D useless druglord scammed his useless ers... telling dem he knows d problem of nigeria...which he couldn't give to buhari..d useless ers said he has no power to make tins right since he's not d president..now d useless fraudulent man is now d prezzdent select still he can't do anything different from d initial useless buhari

Better

Nice one move FG.

Wetin go happen to those when borrow money and never collect am back

Cool
You people should ban
Newcredit
Surecredit
Cashloan
Cashdey
Link credit
Formoney


And I will die a happy man

I don't understand how I will apply for a loan of 20k, 12k disbursed and I will be asked to repay 35k in SEVEN DAYS

I logged on to my app and saw that my 35k loan has turn to 65k after a defaultment of just 1week
Almost 3k charges are added per day

At this rate, Anything that wants to happen should happen oo.....I will not pay that money!!

And yeah....it's SURECREDIT LOAN APP!!!




Fairmoney and Branch are the most sensible ones out of the loan organisations
Fairmoney offered me 5k to pay back 6k in TWENTY FOUR DAYS, If anyone defaults that,He/She should be hanged,they have tried enough


But 10k to pay back 23k in SEVEN DAYS is madness

Anyways, Nigeria is going through a bleeding period right now.....everybody is frustrated,if them like, make Dem still continue their stvpid loan sharks business, defaultment for plenty like maaaad.....I sure die

Carry go....Warrior dey una back

p

.

Good radiance to bad rubbish.

The best loan app there is Fair money and palm credit, all others are just gibberish.

Na to collect loan clean mouth

What most of them do after being delisted is to change name and reapply again for operating license. Then they will transfer all their debtors' credit information to the new app.

Those loan apps operators are armed robbers

Lol

Way to go! God bless Tinubu and give him long life for us all. Buhari left Nigerians at the Mercy of too many wicked Companies, cold murderous Bandits and Killer Herdsmen!

Ehen?

Make dem no forget Airopay and Carbon abeg.
Them don too waste airtime dey call and inbox me. I come dey pity dem cos country hard

finally..

Sigh of relief

tuoyoojo:
Wetin go happen to those when borrow money and never collect am back

OTILO

tuoyoojo:
Wetin go happen to those when borrow money and never collect am back

The debtors will enjoy the free money

Rightly so.

Battlefield2:
Cool
You people should ban
Newcredit
Surecredit
Cashloan
Cashdey
Link credit
Formoney

And I will die a happy man

kuda

Mr. Irukeera of FCC has done quite a lot & shld be commended if not, some persons would have since committed suicide.

Audio.