The Federal Competition and Consumer Protection Commission has stated that it will start taking action to prevent loan apps from bothering their customers.
Many Nigerians have expressed frustration about the harassment they experience from these loan sharks
However, the commission’s acting chairman, Adamu Abdullahi, mentioned that the agency has started addressing the problem.
”It will soon be a thing of the past in the country that online platforms which many people know as loan sharks, where some Nigerians access money quickly to solve urgent issues,” Abdullahi told the BBC
In March, the Nigeria Data Protection Commission stated that it was probing over 400 instances of privacy breaches involving online loan apps.
It pointed out that investigations have shown that “loan apps are excessively intrusive.”
NDPC is also pushing for a prohibition or limitation on mobile numbers that have been used by lenders to violate the privacy of their customers.
“They generally violate the principles of data protection and privacy because they have access to contacts, pictures, messages, etc. of data subjects,” the commission stated.
