Operators of digital lending apps who defame and harass Nigerians in an attempt to recover loans, will have their apps deleted on Google, Executive Vice Chairman of the Federal Competition and Consumer Protection Commission, Babatunde Irukera, has disclosed.
Speaking on Arise News Channel, the broadcast arm of THISDAY Newspaper on the recent activities of the commission, Irukera further stated that the strategy to delist loan applications found harassing customers has led to significant reduction and those left have met the stated ethical requirements.
He further added that once a loan app has been delisted due to consumers harassment, there would not be a second chance. He also said genuine people in need of the loans should not be made to suffer frustrations to get loans.
The FCCPC Boss also spoke on involving the use of AI to boost the processes involved in money lending by these online banks, saying FCCPC will regulate its application to forestall abuse of consumer rights.