Spark credit

12.09.2023 Featured After FIJ’s Investigation, FCCPC Delists Rock Financials, 34 Others

Published 12th Sep, 2023

By Opeyemi Lawal

Barely three weeks after FIJ’s undercover investigation into loan agencies that weaponised defamation, the federal government has delisted Spark Credit, one of the loan products FIJ monitored, and 34 others.

Rock Financials has also fallen off the FCCPC’s list of fully or conditional approved loan companies.

The federal government, through the Federal Competition and Consumer Protection Commission (FCCPC), delisted the loan apps on Monday.

The FCCPC announced on its website that the loan apps were delisted from the commission’s database and also deleted from Google Play Store for harassing Nigerians.

READ ALSO: FCCPC Delists 18 Loan Apps, Orders Google to Remove Them

The loan apps delisted by the commission are SwiftKash app, Hen Credit loan app, Cash Door App, Joy Cash-loan, EagleCash app, Luckyloan personal loan app, Getloan app, Ease loan app, 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, IMoneyplus-instant, NairaNaija-instant, NowNowMoney, Naija Cash, Firstnell app, Flypay and Spark Credit.

Besides the delisted apps, the agency had also placed over 50 loan apps alongside their companies on its watchlist.

FIJ published a two-part investigative series revealing how loan collectors harass and emotionally abuse customers in a bid to recover loans and meet work targets.

READ ALSO: BREAKING: FCCPC To Investigate Landwey After FIJ’s ‘Money Heist’ Story

The investigations found both Newedge Finance Limited and Rock Financials, owners of numerous popular loan subsidiaries in Nigeria, wanting in ethical practice.

While Newedge Finance Limited remained on the list of the approved loan agencies on the commission’s website, FIJ found that Rock Financials was missing on the list.

FIJ found in an April report that Rock Financials was listed as one of the approved loan companies. It is currently missing on the list of fully approved loan companies or those with conditional approvals.

Published 12th Sep, 2023

By Opeyemi Lawal


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