Nigeria: Federal Competition and Consumer Protection Commission investigation into possible violations by digital money lenders
Progress
Current status
under deliberation
05 Feb 2024 under deliberation
Scope
Implementers
Nigeria
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license 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 enforcement against digital lending violations
On 5 February 2024, the Federal Competition and Consumer Protection Commission (FCCPC) announced that it is intensifying enforcement against violations in the digital lending sector. The FCCPC noted an increase in unethical recovery practices and ab…
SourceEvent type
investigation
Action type
announcement
Government branch
executive
Government body
consumer protection authority