Federal Competition and Consumer Protection Commission (FCCPC) has issued a stern warning to loan apps and businesses that harass and intimidate Nigerians over unpaid loans.

In a bold move to protect consumers, the FCCPC has urged Nigerians to report any instances of harassment or intimidation by these loan apps and businesses.

The FCCPC’s directive comes amidst growing concerns about the tactics used by some loan apps and businesses to recover debts from customers.

Many Nigerians have reported being subjected to threatening messages, calls, and even social media shaming by these loan apps and businesses.

In a statement, the FCCPC emphasized that “no consumer should live in fear” and that it is committed to protecting the rights of Nigerians from unfair and deceptive practices. The commission warned loan apps and businesses that they will face severe consequences if they continue to engage in harassing and intimidating behavior.

The FCCPC emphasized that “no consumer should live in fear” and that it is committed to protecting the rights of Nigerians from unfair and deceptive practices

The FCCPC has encouraged Nigerians to report any instances of harassment or intimidation by loan apps and businesses to its office. The commission has also assured that it will take prompt action to address these complaints and bring perpetrators to book.

This move by the FCCPC is a welcome relief to many Nigerians who have been victims of loan sharks and harassing loan apps. It is a clear indication that the government is committed to protecting the rights of consumers and promoting fair business practices in the country.

Nigerians are advised to report any instances of harassment or intimidation by loan apps and businesses to the FCCPC through its website or social media channels.

The commission can also be reached through its toll-free line or by visiting its office in person.

By reporting these instances, Nigerians can help the FCCPC to crack down on loan sharks and harassing loan apps, and create a safer and more secure environment for consumers to access credit and other financial services.

First City Monument Bank (FCMB) is making dreams come true with its Millionaire Promo Season 10. The first draw, held nationwide, saw four lucky customers walk away with N1 million each, while 900 others received cash prizes up to N50,000.

The new millionaires are Issa Aliyu, a farmer from Ilorin, Kwara State; Anthony Ngiah, a businessman from Owerri, Imo State; Aisha Muhammad, an entrepreneur from Kaduna State; and Prosper Chigbu, another businessman from Lagos.

uAliyu plans to invest his winnings back into his business. “This bank doesn’t just talk about helping people; they do it. Winning this money is a real blessing, and I will use it to grow my farm,” he disclosed with excitement. “It will make a real difference.”

Ngiah echoed the sentiment: “Winning the Millionaire Promo is amazing. FCMB has been a great bank to me, and I can’t wait to enjoy every other benefit they offer. I’m excited and cannot wait to see the future of my relationship with the bank.”

Adetunji Lamidi, Divisional Head of Personal Banking at FCMB, spoke on the promo’s importance: “We are excited about the positive impact of Season 10 of the Millionaire Promo and congratulate the 904 winners.

“Their stories demonstrate how this promo empowers individuals, strengthens our commitment to financial inclusion, and encourages a savings culture. We want everyone to experience this, so we encourage more Nigerians to participate in the promo and explore our other banking solutions designed to help them grow their finances.”

Fidelity Bank Plc, one of Nigeria’s leading financial institution has announced its selection as one of the partner banks for the Nigeria Youth Economics Engagement and De-Radicalization Programme (NIYEEDEP)”.

NIYEEDEP (Nigerian Youth Economic Engagement and De-Radicalization Programme), is an initiative of the Federal Ministry of Youth Development, in collaboration with the Nigerian Senate, through its committee on Sports Development. The primary aim of the initiative is to empower Nigerian Youths for economic growth and Development, nation-building, poverty alleviation and security.

Situating the NIYEEDEP partnership within the Bank’s strategy, Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc explained, “We are delighted to partner with the Federal Government on this noble cause especially as it aligns with brand ethos of helping individuals to grow, inspiring businesses to thrive, and empowering economies to prosper. We believe that Nigeria’s youthful population is a blessing and initiatives like this will go a long way in unlocking the value in our teeming young population”.

Open to Nigerians between the ages of 18 and 35 years, NIYEEDEP is designed to create 6 million jobs focused on key sectors like agriculture, technology, and renewable energy.

Interested participants are required to visit https://bit.ly/Fidelity-NIYEEDEP to open a Fidelity Bank account to be able to access the programme.

“There are limited spaces for participants in the initiative, so I enjoin everyone to hurry to our website or the nearest Fidelity Bank branch to get started. Do remember to provide correct details so that we can provide necessary updates as the programme kicks off”, said Ede.

Ranked among the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank serving over 8.5 million customers through its 255 business offices in Nigeria and the United Kingdom, as well as through digital banking channels.

The bank has garnered multiple local and international awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, Best Payment Solution Provider Nigeria 2023, and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.