The Federal Competition and Consumer Protection Commission says it will begin the process of blocking loan apps that harass their customers.
Many Nigerians have complained about the harassment they are subjected to by these loan sharks
However, the commission’s acting chairman, Adamu Abdullahi, said the agency has begun to address the issue.
”It would soon be history in the country that online platforms that many people know as loan sharks, where some Nigerians access money quickly to solve urgent issues,” Abdullahi told the BBC
It noted that investigations have revealed that “loan apps are overly intrusive.”
NDPC is also seeking a ban or restriction on mobile numbers found to have been used by lenders to breach the privacy of their customers.
“They generally violate the principles of data protection and privacy because they have access to contacts, pictures, messages, etc. of data subjects,” the commission stated.
