Nigeria: Federal Competition and Consumer Protection Commission investigation into possible violations in money lending industry
Progress
Current status
under investigation
05 Apr 2022 under investigation
11 Mar 2022 under deliberation
Scope
Implementers
Nigeria
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
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 interim rulings in investigation into possible violations in money lending industry
On 5 April 2022, the Joint Task Force, consisting of the Federal Competition and Consumer Protection Commission (FCCPC), the National Information Technology Development Agency (NITDA), and the Independent Corrupt Practices and Other Related Offences…
Event type
investigation
Action type
interim ruling
Government branch
executive
Government body
consumer protection authority
Federal Competition and Consumer Protection Commission announced investigation into possible violations in money lending industry
On 11 March 2022, the Federal Competition and Consumer Protection Commission (FCCPC), in collaboration with other regulatory bodies, initiated an investigation into the digital money lending industry. This inter-agency effort, involving the FCCPC, N…
Event type
investigation
Action type
announcement
Government branch
executive
Government body
consumer protection authority