The Federal Competition and Consumer Protection Commission of Nigeria has taken decisive action against predatory loan apps that were found guilty of harassing Nigerian borrowers.
The commission, after conducting a thorough investigation, has permanently delisted and initiated the process of deleting two loan apps from the Google Play Store.
The apps, called ‘Getloan’ and ‘Camelloan,’ owned by: Sycamore Integrated Solutions Limited and Orange Loan and Purple Credit Limited were officially approved by the government to offer loans, but they were found to be doing some dishonest things.
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They used APK to attract borrowers
One of the illegal tactics involved using APK to lure borrowers into their schemes, taking advantage of an unregulated and unauthorized process.
The Federal Competition and Consumer Protection Commission found evidence supporting these malpractices, which lead to the decision to permanently remove these loan apps from the approved list.
The commission issued an order to Google Play Store, as well as other payment and financial service providers, to permanently prohibit offering any services associated with digital lending to Sycamore Integrated Solutions Limited and Orange Loan and Purple Credit Limited.
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Man divorces wife for refusing to stand as a guarantor
A Nigerian man has explained the moment he realized his wife was not the right woman for him which led to their divorce.
Responding to a tweet made by @agbajohn_doe who asked social media users the moment they realized they have lost their partner for life.
The unidentified man recounted that he messed up when his mother had cancer and he needed urgent money to keep her alive but his wife did not help with it.
