By Latiifah Amusan
The Federal Competition and Consumer Protection Commission (FCCPC) has taken action against digital loan apps operating without regulatory approval on the Google Play store.
The commission has ordered Google to remove 18 such apps, stating that only digital money lenders with proper approval and compliance with the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022, are allowed on the platform.
Failure to comply with the guidelines may result in severe consequences, including delisting, prohibition, and potential law enforcement action.
The Loan Apps include,
Getloan
Joy Cash-Loan
Camelloan
Cashlawn
Nairaloan
Eaglecash
Moneytreefinance Made Easy
Luckyloan Personal Loan
Cashme
Easynaira
Swiftcas
Crediting
Swiftkash
Hen Credit loan
Nut loan
Cash door
Cashpal
Nairaeasy gist loan
