The Federal Competition & Consumer Protection Commission (FCCPC) has insisted that the applications of illegal online money lenders must be removed from Google LLC (Play Store) and Apple Inc.
Speaking in Abuja, the Vice Executive Chairman, Babatunde Irukera said the move was aimed at regulating the activities of digital money lenders in Nigeria.
It will be recalled that the FCCPC recently raid some online money lender offices in Lagos.
According to Irukera “the day we conducted the raid, we have some limited information about the bank accounts that some of the loan companies operated.
“All the bank accounts that were provided were immediately blocked but these companies operate multiple bank accounts with multiple names.
“Between the time we raided and now, we have discovered additional 30 accounts and all have been frozen and we will continue to freeze as we discover them.”
He explained further currently FCCPC is engaging three major loan companies whose businesses had been affected by its raid.
“I am certain that with the actions that we have taken and the nature of the engagement we are having with the loan companies, they are modifying their mode of operations.”
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