Africa Business News

The Federal Government through the Federal Competition and Consumer Protection Commission has released new a list of 154 fully approved digital lenders licensed to operate in the country. It gave 40 others conditional approval, added 20 to its watch list, and delisted nine apps. It also noted that four others comprising of Fastcredit Limited, Greenbond Finance Company Limited, Baines Microfinance Bank Limited, and Ekondo Microfinance Bank Limited, had been licensed by the Central Bank of Nigeria. It also came after the commission gave digital money lenders a five-day deadline to prove they were operating within its set guidelines. It announced this earlier when it asked Google to delete 18 digital lenders from Playstore for harassing Nigerians.