Breaking: FCCPC Slams ₦100m Fines on Loan Apps — New Rules Ban Harassment, Pre-authorised Lending And Force Registration In 90 Days

Breaking: FCCPC Slams ₦100m Fines on Loan Apps — New Rules Ban Harassment, Pre-authorised Lending And Force Registration In 90 Days

Nigeria just rewired the rules of the loan-app game. The Federal Competition and Consumer Protection Commission (FCCPC) has published landmark regulations aimed at ending the epidemic of harassment, privacy invasion and predatory tactics by digital lenders, with penalties of up to ₦100 million (or 1% of turnover) and director disqualifications on the table for the […]