The Federal Competition and Consumer Protection Commission (FCCPC) has released a complete list of approved online financial technology companies in Nigeria.

This list followed the deadline issued to all existing mobile lending apps to register with the agency established by the federal government for the purpose of protecting consumer rights in the country.

In its March 31, 2023 statement, the commission revealed that 119 instant loan companies had been given full approval, while 54 were on conditional approval.

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Following this approval, the agency has brought the loan apps under the provisions of the Limited Interim Regulatory Framework and Guidelines for Digital Lending 2022 aimed at regulating their operations.

“In furtherance to the investigation by Inter-Agency on Joint Task Force on the Digital Lending Apps, the registration of the Apps to the Limited Interim Regulatory Framework and Guidelines for Digital Lending 2022 has commenced. Please find attached the list of the companies/Digital Lending Apps for the Commission’s Website,” the agency stated.

APPROVED APPS

CONDITIONAL APPROVAL LIST

Over the years, there have been concerns about how quick-loan companies recourse to customer harassment and intimidation as part of loan recovery efforts.

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FIJ has reported many stories of Nigerians who became victims of such threats and privacy violations.