NEWS UPDATE: LOAN SHARKS AGREE TO DESIST FROM THREATENING, DEFAMING DEFAULTERS- FEDERAL COMPETITION AND CONSUMER PROTECTION COMMISSION.
By: Nneka Oduada Eze (Esq)
The Federal Competition and Consumer Protection Commission (hereinafter referred to as “the FCCPC”) has disclosed that Digital Money Lenders who are willing to continue operations in Nigeria must agree to certain conditions as laid down by the FCCPC.
The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Babatunde Irukera, disclosed that some of the money lenders under investigation, or whose bank accounts have been frozen amongst others have agreed to cease and desist from messaging people on contact lists or third parties borrowers/defaulters.