FG Releases Updated List of Approved Digital Money Lenders and Banks in Nigeria, Opay Still Not Included in New List.
The Federal Competition and Consumer Protection Commission (FCCPC) has released the full names of approved loan apps in Nigeria
FCCPC said the loan apps approval followed its March 27, 2023, deadline for them to obtain certification to operate
Also, Google, in an update, said it would remove unapproved loan apps from its store
The Federal Competition and Consumer Protection Commission (FCCPC) has released a new list and added about 173 companies approved to operate as loan apps and digital money lenders.
The development follows the March 27, 2023, deadline given by FCCPC for registering the companies.
Over 100 apps receive FG’s approval
About 119 of the companies received full approval, and 54 got conditional approval pending when they fulfil other terms and conditions set by the Commission, a Nairametrics report said.
After issuing updates on loan apps in Nigeria, Google will delist the unregistered apps from its play store, asking them to provide approval certification from FCCPC or face removal.
Google had slated January 31, 2023, as the deadline for the apps’ removal before moving it to March 27.
FCCPC clarifies the reason for the approval
According to FCCPC, it drew up the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending of 2022 in partnership with the Joint Task Force (JTF) to promote transparency, fairness, and beneficial alternatives to lending opportunities in Nigeria.
The activities of loan apps in Nigeria necessitated FCCPC’s recent action following a proliferation of illegal loan apps in Nigeria, with consumers reporting rights violations and sharp practices, among others.
Findings have shown that interest rates charged by loan apps violate lending ethics. They also involve in the public humiliation of defaulters and engage in privacy violations.
List of approved loan apps
Sycamore Integrated Solutions Limited
Trade Depot
Tajow Investment
Blue Ridge Microfinance Bank Limited
Grolatech Credit Limited
Branch International Financial Services Limited
P2vest Technology Limited
Creditwave Finance Limited
Keenest Tech Service Limited
Fairmoney Micro Finance Bank
Altracred Finance Investment Limited
Crevance Credit Limited
Menacred Company Limited
Afrowide Development Ltd
Red Planet Nigeria Limited
Afrofirst Mobile And Technology Company Limited
Rankcapital Limited
Ibs Golden Investment Company Limited
Lendvisery Services Limited
Renmoney Microfinance Bank Limited
Swipebill Technologies Nigeria Limited
Hometown Fintech Limited
Giasun Technology Nigeria Limited
Be Resources Limited
Rockit Lenders Nigeria Limited
Pivo Technology Limied
Yes Credit Company Limited
Irorun Technologies Limited
Csense Limited
Supreme Help Cooperative Society Limited
Orcom And Orcom Bussiness Suport Limited
Payhippo Limited.
Easycheck Finance Investment Limited
Quark Financial Nigeria Limited
Edmond Solutions Company Limited
Ted Rocket Limited
Penaid Limited
Arve Limited
Dover Credit Limited
Ragekay Global Investment Limited
Maywood Lending Limited
Linkpark Technology Nigeria Limited
Mangnet Lending Limited
Rubystar Global Limited
Bestfin Nigeria Limited
Fubri Century Company Limited
Berly Spring Global Limited
Rock Financials Limited
Phoenix Payment Solution Limited
Value Driver Technology Solution Limited
Nextpayday Limited
Blackcopper Service Limited
Trafalgar Associate Limited
Windville Financial Nigeria Limited
Orange Loan & Purple Credit Limited
Carbon Microfinance Bank Limited
Neo-Link Technology Company Limited
Finnew Fintech Limited
Otp Internet Technology Limited
Red Harbor Fintech Limited
Paylater Hub Limited
Skitloan Nigeria Limited
Raceova Nig. Limited
New Credage Nigeria Limited
Betterlending Company Limited
Fast-Point Intergrated Limited
Apex Lending Limited
Piska Tech Nigeria Limited
Princep Credit System Limited
Omalend Service Limited
Pockful Finance Limited
Highcredit Nigeria Limited
Hollandale Nigeria Limited
Pay Financial Technology Service Limited
A1 Capital Solution Limited
Newedge Finance Limited
Papichou Technology Limited
Goharvest International Limited
Mino Sparks Limited
Xgo Finance Limited
Primera Microfinance Bank
Credit Tech Lending Company
Prosperity Archipelago Limited
Finesest Limited
Singularity Technology Nigeria Ltd
Econ Mart Fintech Limited
Pennee Technologies Limited
Oxymon Solution Limited
Lantana Technology Limited
Applink Capital Nigeria Limited
Yegon Tech Limited
Fezotech Nigeria Limited
Eric Vsta Limited
Moblaspay Company Limited
Paycredit Limited
Niz Services Limited
Mino Sparks Limited
Flo Wood Lending
Liberty Assured Limited
Uni Technology Nigeria Ltd
Trade Lenda Com Limited
Creditville Microfinance Bank Ltd
Letshego Microfinance Bank Ltd
Kiowope Capital Limited
Veendhq Limited
Ucplus Advance Limited
Maven Finance Limited
Aella Financial Solutions Limited
Fluna Capital Limited
Newedge Finance Limited
Ta Prime Limited
Regxta Global Service Ltd
Provest Limited
Jm Rubinus Limited
Crossroads E-Payment Systems Limited
Consynergy Limited
Fintcred Innovation Limited
Afrosay Fintech Limited
Mim Finance Company
Nigerian government asks Google, Apple to delete loan sharks from stores, lists defaulting apps
Legit.ng earlier reported that the Nigerian government, via the Federal Competition and Consumer Protection Commission (FCCPC), has asked Google and Apple to delete about four loan apps from their stores.
The FCCPC said the loan apps engaged in unethical practices against its laid down procedures.
The affected apps include Maxi Credit, Here4U, Chacha and SoftPay.
Source: Legit.ng
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FG Releases Updated List of Approved Digital Money Lenders and Banks in Nigeria, Opay Still Not Included in New List.
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