The Federal Competition and Consumer Protection Commission (FCCPC) says it will ask Google to permanently delete digital money lending apps harassing and slandering customers from its Play Store.
Babatunde Irukera, chief executive officer (CEO), FCCPC, spoke during an interview on Arise TV on Tuesday.
Digital lenders, otherwise known as “loan sharks” offer loans at extremely high rate returns and strict terms of collection.
Irukera said digital lenders who are ethical are welcome to do business in the country while those that engage in harassment and defamation of consumers will be dealt with promptly.
He said some digital lenders do not use the Google Play Store but prefer to use Whatsapp and other channels to advertise their services to customers.
“Our concern is if these lenders we’ve approved are still doing it (harassing customers), even if they do it just for once, we will permanently delete them from the Google Play Store. As we discover them, we go after them,” Irukera said.
“There are things they can do wrong where they will be given a second chance but with respect to harassing consumers or defamatory messages, there will not be a second chance.”
Irukera advised lenders to devise acceptable methods of recovering loans such as verifying the credibility of a potential borrower.
“Most of the people who are failing to pay back these loans are chronic borrowers. So, if you have a problem of paying back your obligation, you should not have the opportunity to borrow again,” the FCCPC boss said.
“But people who truly have a problem and have failed to make a payment or do not fail to make a payment should not be subjected to the inconvenience, the aggravation and frustration that accompanies these defamatory messages.”
