The Federal Competition and Consumer Protection Commission (FCCPC) has asked Google to take down 18 additional digital loan apps from the Google Play Store.
RELATED: Nigeria delists ‘Getloan’ and ‘Camelloan,’ begins clampdown on illegal digital money lenders
According to the commission, the apps downloadable on the Google Play Store do not have regulatory approval and therefore violate the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (Guidelines).
The FCCPC recently delisted two loan apps, ‘Getloan’ and ‘Camelloan’ from operating in the country as part of an aggressive nationwide clampdown on unapproved, unregistered or illegal Digital Money Lenders (DMLs).
The 18 loan apps listed for deletion are:
“Luckyloan Personal Loan, Cashme, Getloan, Nut loan, Cash door, Cashpal, Joy Cash-Loan Up to 1,000,000, Camelloan, Cashlawn, Nairaloan, Nairaeasy Gist loan, Eaglecash, Moneytreefinance Made Easy, Easynaira, Swiftcas, Crediting, Swiftkash, and Hen Credit loan”
Only DMLs that have met the conditions for regulatory scrutiny and compliance will be allowed on the Play Store, the commission stated.