The Federal Competition and Consumer Protection Commission (FCCPC) has announced an updated registry of over 170 licensed digital lenders in collaboration with the Central Bank of Nigeria (CBN). This initiative aims to enhance consumer protection and ensure safer borrowing practices for Nigerians amid growing concerns over fintech operations. The updated list is part of ongoing efforts to regulate the digital lending space and safeguard consumers from predatory lending practices. The FCCPC emphasizes the importance of using only registered loan apps to avoid scams and financial pitfalls. This move is expected to bolster confidence in the fintech sector and promote responsible borrowing among consumers. Stakeholders are encouraged to review the registry to make informed borrowing decisions.
NigeriaNewsFeed summary based on reporting from Legit.
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