The Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) issued a strong warning to loan apps and businesses intimidating or harassing Nigerians over unpaid debts.
The agency vowed to tackle aggressive debt collection tactics head-on.
Call to Report Violations
The FCCPC urged citizens to report cases of harassment, such as threatening calls, messages, or public shaming on social media.
The commission emphasized its commitment to shielding consumers from unfair practices, stating, “No Nigerian should live in fear of predatory lenders.”
Addressing Growing Concerns
Rising complaints about coercive methods used by some loan providers prompted the FCCPC’s action.
Many borrowers have faced relentless pressure, including tactics that violate privacy and dignity, to settle debts.
Commitment to Consumer Rights
The agency promised swift enforcement against offenders, ensuring accountability for those engaging in deceptive or abusive behavior.
“We will protect Nigerians’ rights and promote fair practices,” the FCCPC declared, signaling zero tolerance for loan sharks.
How to Report
Nigerians are encouraged to report harassment via the FCCPC’s website, social media platforms, toll-free hotline, or in-person visits to its offices.
The commission assured prompt investigations to hold violators accountable.
Empowering Safer Credit Access
This initiative offers relief to borrowers targeted by unethical lenders. It reflects the government’s push for ethical business conduct and a safer environment for accessing financial services.
By reporting violations, citizens can help curb predatory practices and strengthen consumer protections.
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