FG Set To Go After Illegal Money Lenders Harassing Nigerians  

A joint committee to tackle companies operating illegally and those harassing customers has been established.

Trixx NG learnt the team which includes representatives of Federal Competition and Consumer Protection Commission (FCCPC), Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), National Information Technology Development Agency (NITDA) and National Human Rights Commission (NHRC) also vowed to shut businesses and engage App stores to shut down applications that are infringing and abusive.

Babatunde Irukera On Sunday informed the News Agency of Nigeria (NAN) that enforcement would commence soon.

The committee has been tasked to come up with rules money lending companies must obey.

“We are also going to be writing interim regulations and some basic information for all these money lenders to provide information so that people will know who they are.

“Some of them are just Apps that we do not even know who the promoters are. We are going to provide certain frameworks for them to comply with‘’, he Irukera added.

On complaints about insurance companies’ services, Irukera says a Memorandum of Understanding (MoU) with the National Insurance Commission (NAICOM) is underway.

The FCCPC chief gave early 2022 as the time-frame of delivery of the bilateral agreement.