30 results
- 6 Nov 2023
FCCPC Says Licensed Digital Lenders now 211
The number of digital lenders licensed to operate in Nigeria has risen to 211, according to new data from the Federal Competition and Consumer Protection Commission (FCCPC) Pic credit: stears.co Of…
- 9 Dec 2022
FCCPC Extends Registration Deadline for Online Money Lenders
The Federal Competition and Consumer Protection Commission (FCCPC) has extended the deadline for the registration of Digital Money Lenders (DMLs). A statement by Mr Babatunde Irukera, the Chief…
- 22 Jan 2026
FCCPC Delists Non-Compliant Digital Lenders Post-January 5 Deadline
Federal Competition and Consumer Protection Commission (FCCPC) has commenced enforcement actions against Digital Money Lending (DML) operators that failed to regularise their operations under the…
- 10 Apr 2022
FCCPC to Institute Criminal Prosecution Against Online Money Lenders
Federal Competition and Consumer Protection Commission (FCCPC) has stated that due to the ongoing investigation of unregistered loan apps and harassment of defaulting customers, it will proceed with…
- 21 Jul 2023
FG Delists Loan Apps, Vows More Clampdowns
Federal Government through the Federal Competition and Consumer Protection Commission has said it will release a list of illegal (unregistered) digital loan apps operating in Nigeria. It also said it…
- 3 Sept 2025
Loan Sharks to Face N100m Fine for Consumer Abuse, Data Privacy Breaches
Federal Competition and Consumer Protection Commission (FCCPC) has officially issued the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations (DEON Consumer Lending…
- 13 Feb 2024
MLA Backs FCCPC over Action on Digital Lending Violation
Money Lenders Association (MLA), has thrown its weight behind the measures taken by the Federal Competition and Consumer Protection Commission (FCCPC), aimed at ensuring ethical conduct in digital…
- 17 Apr 2023
Google Tightens Rules on Loan Apps, Operators Cry Out
Google, the global search engine, which provides the digital infrastructure, has tightened regulations on Fintech Loan apps by cutting off access to sensitive data including users' contacts, photos…
- 26 Dec 2023
FG to Commence New Regulation for Loan Apps in 2024
Federal government has announced that it will implement a new regulatory framework for digital money lenders (DMLs), known as loan apps. Mr Babatunde Irukera, chief executive officer of the Federal…
- 5 Apr 2022
Loan Sharks Agree to Stop Threatening, Defaming Defaulters
Babatunde Irukera, executive vice chairman and chief executive officer, Federal Competition and Consumer Protection Commission (FCCPC), has said that some of the money lenders under investigation, or…
- 4 Apr 2024
NDPC Investigating over 400 Cases of Loan App Privacy Breaches
Nigeria Data Protection Commission (NDPC) has launched investigations into more than 400 cases of privacy breaches involving digital lenders, commonly known as loan apps. This move comes amid rising…
- 1 Apr 2022
FCCPC Accuses Google of Protecting Illegal Online Loan Sharks
The Federal Competition and Consumer Protection Commission (FCCPC) has indicted Google for obstructing efforts aimed at tracing the owners of illegal online money lenders engaged in consumer rights…
- 30 Oct 2018
Nigerians Besiege Online Loan Companies for Cash Without Collateral
Small business loans help entrepreneurs meet financial obligations. However, lenders often require that you put down property as security for repayments, according to invoice.ng Not every…
- 10 Apr 2023
FG bars online banks from accessing customers' photos and contacts
Federal government of Nigeria has banned Loan apps from accessing customers’ photos and contacts. From May 31, 2023 loan apps on Play Store will lose their ability to access their users’ contacts or…
- 28 Dec 2023
FG to Issue Fresh Regulations for O-pay, Moniepoint, Others in 2024
Federal Competition and Consumer Protection Commission, FCCPC, has disclosed that it would release more regulations for operators in the digital lending space in 2024 to improve loan recovery methods…
- 22 Aug 2022
FG Orders Telcos, Fintechs to Stop Services to Loan Sharks
Federal Competition and Consumer Protection Commission (FCCPC), said it has ordered telecommunication/technology companies (including mobile network operators and digital financial payment systems)…
- 4 Dec 2025
Senate Considers Bill to Empower CBN to Regulate Fintech
Senate on Thursday began debate on a bill seeking to amend the Banks and Other Financial Institutions Act (BOFIA) 2020 to empower the Central Bank of Nigeria (CBN) to designate and supervise…
- 29 Oct 2019
FG Urged to Disburse TraderMoni through Lendtech Platforms
Lendtech platform operators in the country have urged the federal government through the office of the Vice President Yemi Osinbajo, to disburse TraderMoni loans through the technology platforms in…
- 11 Jan 2022
Fears of Job Losses as Standard Chartered Closes some Nigerian Branches
Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), the workers’ union, which strives to Striving to eliminate barriers that deny individual right to enjoy dignity…
- 6 Jul 2022
IFC Invests in Wave to Boost Access to Digital Financial Services in West Africa
To spur financial inclusion and support economic growth in Senegal and Côte d'Ivoire, IFC today announced an investment in Wave Mobile Money S.A. (Senegal) and Wave Côte d'Ivoire S.A., mobile money…
- 4 Feb 2022
Four Ways FMCG Distributors Can Use Embedded Finance to Grow Trade within Supply Chains
By Ope Adeoye, Chief Plumber, One Pipe You have a shop in the neighbourhood or market, selling things like milk, noodles, sugar, etc. Now imagine that your plug for Nestle, Unilever or Flours Mill of…
- 28 Dec 2020
Over 100,000 Farmers Benefit from Social Lender-OCP Africa Collaboration
As part of efforts to alleviate the suffering of Nigerians in the rural communities during the Covid-19 crisis, over 100,000 smallholder farmers have got personalized financial services, even as…
- 13 Mar 2022
FG Shuts 7 Online Banks, Freezes Accounts
At least seven digital loan companies operating in Ikeja, Lagos, were raided in a joint operation with the Federal Competition and Consumer Protection Commission (FCCPC) on Friday for a “possible…
- 3 Mar 2023
FairMoney Revamps App with Exciting Features
FairMoney has recently launched an updated version of their mobile banking app homepage that promises to make banking easier and faster for the busy, modern lifestyle. The new app features a sleek…
- 6 Aug 2020
Luno Partners Genesis to Help Customers Earn Interest on their Crypto holdings
Genesis, a leader in digital currency prime brokerage services, today announced a partnership with Luno, the global cryptocurrency platform, to provide customers with simple, accessible ways to earn…
- 10 Mar 2023
Are there Really Cashless Economies?
By Yvonne-Faith Elaigwu, Head of Operations and Governance, OnePipe ‘Cashless’ has probably become one of the most popular words in Nigeria in the last few months. While it can be defined in…
- 11 Jan 2018
CBN, Experts Say Bitcoin is Dangerous Scam
Central Bank of Nigeria (CBN) has warned Nigerians and financial institutions to stay away from bitcoin and other digital currencies. Experst also said that when bitcoin inevitably crashes,…
- 6 Apr 2016
Ericsson Shares Insight On 'Disrupting' Microfinance System To Benefit Millions Of SMEs
Though Microfinance – the provision of small, short-term loans – is a labor-intensive business that has traditionally been reliant on personal relationships between lenders and clients, Ericsson said…
- 20 Jan 2022
P2Vest, Nigerian Fintech Firm Records 100,000 Users on its Platform
P2vest Technology Limited, on Thursday announced that its peer-to-peer lending application, P2Vest has hit 100,000 users with access to quick loans. Austin Abolusoro, founder and CEO, P2vest…
- 9 Oct 2017
Interswitch Partners Banks, Credit Providers to Render Low-level Nano loans
Interswitch foremost Africa-focused digital payments and Commerce Company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organizations…