Money lenders back FG’s sanitisation of Nigeria’s digital lending space
The Money Lenders Association (MLA) in Nigeria has extolled efforts by the federal government to sanitise the digital lending space via its move to delist any loan application found harassing Nigerians.
Gbemi Adelekan, President, MLA, made this known while speaking on the development in Lagos on Friday.
Recall that the federal government through the Federal Competition and Consumer Protection Commission (FCCPC) said it would ask Google to permanently delete such loan apps from its app store.
The CEO of FCCPC, Babatunde Irukera, said the commission was ready to permanently shut down the activities of these apps in response to the continued harassment of Nigerians by digital lenders.
The MLA president said the association condemned in its entirety, the unprofessional act of harassment perpetrated by some unscrupulous lending organisations which were not MLA members.
He lauded the intervention of FCCPC in streamlining and sanitising the digital lending space to reduce and eliminate activities of some unethical lenders.
“We are proud of the efforts of the FCCPC in this regard which has indeed attracted global recognition.
“The association actively collaborates with regulators and the state government to foster a better understanding of the money lending industry and address the practical challenges faced by our members in their daily operations.
“As part of our commitment to ethical practices, all members of our association adhere to a comprehensive code of practice which facilitates self-monitoring of activities to ensure compliance with state regulations to promote trust and confidence in our operations.
“In addition, we have been actively involved in educating the public about the precautions ought to be taken when applying for loans online.
“Members of the public are hereby advised to only patronise licensed money lenders for their short-term loan needs,” he said.
The MLA is a non-profit organisation duly incorporated under Nigerian laws to unite all credit companies operating under the Money Lenders Licence.
The association works to advance the money lending industry, safeguarding the interests of the public and customers involved in the money lending business.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Sport
Ex-Manchester City defender Benjamin Mendy found not guilty of rape
The 28-year-old defender was charged with assaulting a 24-year-old lady in October 2020 at his £4 million property in Mottram St Andrew, Cheshire.
Africa
Kenyan President Ruto says further tax hike protests will not be allowed
Mr Ruto’s critics say the tax rises will hurt Kenyans already struggling to afford basic commodities such as maize flour.
States
Bauchi govt commits N150 million to girls’ empowerment project
Sule Madara, the project coordinator, said adolescent girls and vulnerable families across the state would benefit from the project.
NationWide
Court declares Emefiele’s arrest invalid, orders release
The court also set aside and voided any warrant of arrest obtained or procured by the SSS for the arrest and interrogation of Mr Emefiele.
States
Gov. Bago pledges adequate security for NYSC members in Niger
Mr Bago gave the directive during the swearing-in of the 2023 Batch B, Stream 1, corps members posted to the state.
World
Syria okays resumption of UN aid deliveries through Turkey
In recent years, Syria’s authoritarian ruler Bashar al-Assad had insisted on closing border crossings to regain influence over rebel-held parts of the country.
