In a decisive move to regulate and cleanse the digital money-lending sector, the federal government has announced the delisting of 28 illegal digital money-lending apps. The primary objective behind this action is to sanitize the sector and ensure the protection of consumers.
This development was disclosed in the latest report released by the Federal Competition and Consumer Protection Commission (FCCPC) regarding approved digital money lender apps.
The report revealed that the number of delisted digital money lending (DML) apps has surged from nine to 37, underscoring the government’s commitment to cracking down on unscrupulous operators in the industry.
Meanwhile, the approved digital money lending list increased to 164 from 154.
Conversely, the list of approved digital money lending apps has expanded, growing from 154 to 164, as indicated in the FCCPC report. Furthermore, the Commission has placed 54 DML apps on its watchlist.
This decisive action by the FCCPC follows a series of efforts to end the harassment of Nigerian citizens by unapproved money lenders. In both July and August, the Commission took action against illegal digital money-lending apps.
Full list of delisted Apps:
- Swiftkash App
- Hen Credit Loan App
- Cash Door App
- Joy Cash-Loan Up To 1,000,000 App
- Eaglecash App
- Luckyloan Personal Loan App
- Getloan App
- Easeloan Apps
- Naira Naija
- Cashlawn App
- Easynaira App
- Crediting App
- Yoyi App
- Nut Loan App
- Cashpal App
- Nairaeasy Gist Loan App
- Camelloan App
- Nairaloan App
- Moneytreefinance Made Easy App
- Cashme App
- Secucash App
- Creditbox App
- Cashmama App
- Crimson Credit App
- Galaxy Credit App
- Ease Cash App
- Xcredit
- Imoney
- Naira Naija
- Imoneyplus-Instant
- Nairanaija-Instant
- Nownowmoney
- Naija Cash
- Eagle Cash
- Firstnell App
- Flypay
- Spark Credit