Nigeria: Federal Competition and Consumer Protection Commission investigation into digital money lenders over alleged unethical practices and non-compliance with regulatory framework
Progress
Current status
under deliberation
05 Feb 2024 under deliberation
Scope
Implementers
Nigeria
Policy Area
Consumer protection
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
consumer protection authority
Implementation Level
national
Timeline of events
Federal Competition and Consumer Protection Commission announced investigation into digital money lenders over alleged unethical practices and non-compliance with regulatory framework
On 5 February 2024, the Federal Competition and Consumer Protection Commission (FCCPC) announced the initiation of an investigation into Digital Money Lenders (DMLs) over alleged violations of regulatory standards. The FCCPC highlighted concerns abo…
SourceEvent type
investigation
Action type
announcement
Government branch
executive
Government body
consumer protection authority