THE FEDERAL COMPETITION AND CONSUMER PROTECTION COMMISSION (FCCPC) IS AGAIN WARNING LOAN APPS AND BUSINESSES THAT ENGAGE IN HARASSMENT, INTIMIDATION, AND OTHER UNETHICAL PRACTICES IN THE NAME OF LOAN RECOVERY TO DESIST FROM DOING SO. TAKE CAPTION A STATEMENT ON THE COMMISSION’S X HANDLE STATES THAT “NO CONSUMER SHOULD LIVE IN FEAR” BECAUSE OF UNPAID LOANS, EMPHASIZING ITS RESOLVE TO PROTECT THE RIGHTS OF NIGERIANS FROM PREDATORY DIGITAL LENDERS AND AGGRESSIVE RECOVERY AGENTS. THIS IS COMING AMID GROWING PUBLIC OUTCRY OVER THE UNETHICAL TACTICS DEPLOYED BY MANY ONLINE LOAN APPS OPERATING ACROSS NIGERIA. THE STATEMENT ADDED THAT VICTIMS HAVE REPEATEDLY ACCUSED SOME OF THESE PLATFORMS OF CYBERBULLYING, PUBLIC SHAMING, THREATS OF VIOLENCE, AND EVEN DATA PRIVACY VIOLATIONS IN THEIR ATTEMPTS TO RECOVER DEBTS. FCCPC HOWEVER, ASSURED NIGERIANS THAT THE COMMISSION WILL NOT RELENT IN THE PROTECTION OF THE RIGHTS OF CITIZENS.
NO CONSUMER SHOULD LIVE IN FEAR; FCCPC URGES NIGERIANS TO REPORT HARASSING LOAN APPS AND BUSINESSES
