Federal Competition and Consumer Protection Commission’s latest data shows that the number of banned loan applications increased from nine to thirty-seven.
On Monday, the website showed an increase in fully accepted loan applications, from 154 to 164. The number of loan applications that were conditionally approved fell from 40 to 38, while the number of applications that were placed on the commission’s watchlist increased from 20 to 56.
After several complaints from Nigerians about harassment by online money lenders, the FCCPC took decisive action and shook up the industry.
The commission claims that Google permanently removed delisted loan apps from the Play Store.
It stated that the list of delisted apps included, “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, and Spark Credit.”
