Dr Adamu Abdullahi, the Acting Executive Vice Chairman/CEO of the Federal Competition and Consumer Protection Commission, FCCPC, has said that there is no going back on supervising digital money lenders in the country.
This declaration was made during an interview with Channels Television.
According to Abdullahi, the commission was fully committed to launching new regulations for digital money lenders, which would purge the sector of illegal lenders and detrimental debt collection practices.
He added that the commission partnered with other government agencies such as the Central Bank of Nigeria, the Data Commission and anti-graft bodies to promote its role in safe-guarding Nigerian consumers.
“All the inquiry regarding the loan apps and all the regulations developments were performed with me as part of the team. Therefore, nothing stops our continuity in that aspect. We will launch the extra regulatory requirements that are needed.” The FCCPC Chairman had said.
Recall that Babatunde Irukera, the former head of FCCPC who had championed the regulation against loan apps, was fired in January this year.
