Hey there, middle schoolers! We’ve got some news for you. The Federal Competition and Consumer Protection Commission (FCCPC) just released a new report, and it’s all about loan apps. They found out that a whopping 37 loan apps were operating illegally. That’s a big increase from the previous number of nine!
But wait, there’s more! The FCCPC also discovered that the number of fully approved loan apps went up to 164 from 154. That means more apps got the green light to operate legally. However, there were also some apps that got into trouble. The number of loan apps with conditional approval actually went down from 40 to 38. And guess what? The commission is keeping an eye on 56 apps that are on their watchlist now, up from just 20 before.
So, why did the FCCPC take action against these loan apps? Well, it turns out that some of these lenders were harassing people in Nigeria. That’s not cool at all! The FCCPC wanted to make sure that Nigerians are protected and treated fairly when it comes to borrowing
Now, here’s the interesting part. The FCCPC made sure that these illegal loan apps were permanently removed from the Google Play Store. That means they can’t be downloaded or used anymore. Good riddance!
Let’s take a look at some of the apps that were delisted. Remember, these apps are no longer available, so don’t try to download them!
- Swiftkash App
- Hen Credit Loan App
- Cash Door App
- Joy Cash-Loan Up To 1,000,000 App
- Eaglecash App
- Luckyloan Personal Loan App
- Getloan App
- Easeloan Apps
- Naira Naija
- Cashlawn App
- Easynaira App
- Crediting App
- Yoyi App
- Nut Loan App
- Cashpal App
- Nairaeasy Gist Loan App
- Camelloan App
- Nairaloan App
- Moneytreefinance Made Easy App
- Cashme App
- Secucash App
- Creditbox App
- Cashmama App
- Crimson Credit App
- Galaxy Credit App
- Ease Cash App
- Xcredit
- Imoney
- Naira Naija
- Imoneyplus-Instant
- Nairanaija-Instant
- Nownowmoney
- Naija Cash
- Eagle Cash
- Firstnell App
- Flypay
- Spark Credit
So, there you have it! The FCCPC is working hard to make sure that Nigerians are protected from illegal loan apps. It’s important to always be cautious when it comes to borrowing money online. Stay safe, everyone!
