On Friday, 21 January in a conversation with the minister on public matters guiding the digital industry, the issue of online loan apps was raised. The federal government in a memorandum issued by the National Information Technology Development Agency (NITDA) regarding the lending acts guiding financial institutions and organizations has assured Nigerians that these illegal operators would be dealt with accordingly.
He further elaborated on a 7 man panel consisting of the EFCC, ICPC, CBN, and IFPAS that has been set up to further investigate the nefarious activities of these organizations who are behind these phony apps operating against the confines of the money lending acts.
All unlicensed platforms would be drawn towards the google play and App store policy review guiding lending platforms in Nigeria. No lending platform shall be allowed to upload applications or utilize any form of Google or Apple services without a registered license from the federal government.
Recall that there have been several complaints and petitions by Nigerians over the defaming tactics, information theft, and spoofing used by these lending platforms popularly referred to as “Loan Sharks” some go as far as blackmailing and carrying out criminal activities using these platforms. Here is the complete list of illegal lending platforms to avoid in 2022