*The Federal Competition and Consumer Protection Commission discloses sequel to the regulators’ recent clampdown and subsequent engagement, at least three of the raided illegal loan firms in Lagos are making adjustments and modifying their mode of operations

Gbenga Kayode | 绿帽献妻

Sequel to the recent sting operation conducted on some of the unregistered loan companies in Nigeria, the Federal Competition and Consumer Protection Commission (FCCPC) has disclosed it froze about 30 bank accounts operated by the affected firms.

绿帽献妻 谤别辫辞谤迟蝉听Mr. Babatunde Irukera,聽 Executive Vice-Chairman and Chief Executive Officer (EVC/CEO) of the Commission, stated this development at a media engagement Tuesday, March 29, 2022, in Abuja, FCT.

Some digital loan companies in Nigeria

The FCCPC Chief Executive noted that the regulatory Commission had engaged Google and Apple Stores to yank off certain loan applications from their stores.

According to Irukera, there were certain processes required of the FCCPC to achieve that objective.

Currently, the Commission is engaging three major loan companies, which businesses had been adversely affected by the raid jointly conducted by a number of regulatory agencies in Lagos recently, stated he.

Irukera also said: 鈥淭he day we conducted the raid, we had some limited information about the bank accounts that some of the loan companies operated in the country.

鈥淎ll the bank accounts that were provided were immediately blocked, but these companies operate multiple bank accounts with multiple names.”

He further noted: 鈥淏etween the time we raided and now, we have discovered 30 additional accounts, and all have been frozen and we will continue to freeze as we discover them.

鈥淚 am certain that with the actions that we have taken and the nature of the engagement we are having with the loan companies, at least three of the major ones that their businesses have been severely affected by either our search or the account closure, they are modifying.”

The EVC/CEO of FCCPC as well stated: 鈥淚t will take some time but I can assure you that the space is changing now.鈥�

Irukera, therefore, urged improved partnership with the media so as to educate members of the public on their consumer rights towards achieving the objectives of the FCCPC in the Nigerian economy.