Delisted lenders must meet requirements – FCCPC

The Federal Competition and Consumer Protection Commission (FCCPC) has said that delisted digital money lenders must meet the new requirements set by it in order to be registered again and included in Google Play Store.

Daily Trust reports that the abuse of customers’ data was one of the principal reasons why the agency delisted over 50 digital money lenders, as some of the operators who collected customers’ data, images and other vital information, used them to harass, intimidate and shame the customers.

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Speaking over the weekend in Abuja at an event organised by the Nigerian Institute of Management (Chartered) tagged: “Management in an evolving global context”, the Executive Commissioner, Operations, of the agency, Dr Abdullahi Ahmed, said, “The digital money lenders were vital in providing digital banking experience to customers but later abused it by using customers’ details to intimidate them.”