FCCPC Warns Nigerians Against Harassment by Loan Apps and Businesses

FCCPC Warns Nigerians Against Harassment by Loan Apps and Businesses

The Federal Competition and Consumer Protection Commission (FCCPC) has issued a strong warning to Nigerians to report loan apps and businesses that harass consumers over unpaid loans.

The commission emphasized that “no consumer should live in fear” when dealing with legitimate debt collection. Harassment, threats, blackmail, or other illegal practices are strictly prohibited and punishable under Nigerian law.

Consumers who experience abusive or unlawful collection tactics are urged to report cases immediately through FCCPC’s official channels, including its website, toll-free hotline, and verified social media accounts. This will allow the commission to investigate and take swift action against violators.

FCCPC noted that as digital lending continues to grow in Nigeria, so too must efforts to ensure ethical lending practices. The commission is committed to monitoring financial service providers, collaborating with other regulatory bodies, and protecting consumer rights while fostering a safe and transparent lending environment.