As part of its efforts to sanitize the financial space, the Federal Government, through the Federal Competition and Consumer Protection Commission—FCCPC, has delisted about 37 more illegal loan apps.
The latest development brought the total number of fully approved loan apps to 164 from the previous count of 154.
Additionally, the number of loan apps with conditional approval has decreased to 38 from 40, while the commission’s watchlist has expanded to include 56 apps, up from 20.
In its commitment to protecting Nigerians, the FCCPC has permanently delisted and initiated the process of removing two loan apps from the Google Play Store.
These apps were found to be engaging in harassing behavior towards users.
Recall that in August 1, 2023, the FCCPC formally requested Google to remove illegal apps that operate without regulatory approval or violate the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (Guidelines).
The 37 newly delisted loan apps are listed below:
Hen Credit Loan App
Cash Door App
Joy Cash-Loan Up To 1,000,000 App
Luckyloan Personal Loan App
Nut Loan App
Nairaeasy Gist Loan App
Moneytreefinance Made Easy App
Crimson Credit App
Galaxy Credit App
Ease Cash App
Luckyloan Personal Loan