FCCPC Introduces Regulations to Address Loan App Harassment and Implement ₦100 M

FCCPC Introduces Regulations to Address Loan App Harassment and Implement ₦100 Million Penalties

FCCPC has introduced regulations aimed at addressing harassment by loan applications and imposing fines of ₦100 million. The regulations prohibit pre-authorized or automatic lending, ban unethical marketing practices, mandate clear and accessible loan terms, and require at least one service provider involved in airtime and data lending services to be locally owned.

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