The Federal Competition and Consumer Protection Commission (FCCPC) has issued a strong warning to loan apps and businesses that harass or intimidate Nigerians over unpaid loans.
To protect consumers, the FCCPC has urged Nigerians to report any cases of harassment or intimidation by these loan platforms and businesses.
This directive comes in response to increasing concerns over the aggressive tactics used by some loan apps and businesses to recover debts. Many Nigerians have reported receiving threats, persistent calls, and even public shaming on social media from these lenders.
In a statement, the FCCPC stressed that “no consumer should live in fear” and reaffirmed its commitment to safeguarding Nigerians from unfair and deceptive practices. The commission warned that loan apps and businesses engaging in harassment or intimidation will face serious penalties.
The FCCPC has encouraged Nigerians to report any such incidents to its office, assuring that complaints will be addressed swiftly and that offenders will be held accountable.
This action by the FCCPC provides much-needed relief for many Nigerians who have suffered at the hands of predatory lenders and unethical loan apps. It also signals the government’s commitment to consumer protection and fair business practices in the country.
Nigerians are urged to report cases of harassment or intimidation by loan apps and businesses via the FCCPC’s website or social media channels.
The commission can also be contacted through its toll-free number or by visiting its office in person.
By reporting these incidents, Nigerians can assist the FCCPC in tackling predatory lenders and unethical loan apps, ultimately creating a safer and more secure environment for consumers seeking credit and financial services.
