The Federal Competition and Consumer Protection Commission’s latest report indicates that the number of loan apps delisted from circulation increased significantly, going from nine to 37.
In contrast, the number of officially approved loan apps has risen to 164 from the previous 154 as per the most recent data available from the Commission’s website on Monday. Meanwhile, the number of loan apps granted conditional approval has decreased to 38 from 40, while the number of apps under the Commission’s watchful eye has surged to 56 from a previous tally of 20.
This development is a result of on going efforts by the FCCPC to bring about reforms in the digital money lending sector, particularly in response to complaints of harassment of Nigerian borrowers by these lending platforms.
The Commission clarified that the delisted loan apps have been permanently removed from the Google Play Store. Among the apps on this delisted list are: Swiftkash App, Hen Credit Loan App, Cash Door App, Joy Cash-Loan Up To 1,000,000 App, Eaglecash App, Luckyloan Personal Loan App, Getloan App, Easeloan Apps, Naira Naija, Cashlawn App, Easynaira App, Crediting App, Yoyi App, Nut Loan App, Cashpal App, Nairaeasy Gist Loan App, Camelloan App, Nairaloan App, Moneytreefinance Made Easy App, Cashme App, Secucash App, Creditbox App, Cashmama App, Crimson Credit App, Galaxy Credit App, Ease Cash App, Xcredit, Imoney, Naira Naija, Imoneyplus-Instant, Nairanaija-Instant, Nownowmoney, Naija Cash, Eagle Cash, Firstnell App, Flypay, and Spark Credit.
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