• Nigerians narrate risks of quick loan apps
By Kehinde Aderemi
Nigerians are going through a lot these days. With the advent of the fast-growing digital lending sector, cases of harassment and increasing interest rates from lenders and managers of online loan apps and the need to regulate their activities have continued to generate concern for Nigerians.
Sequel to the unexpected increase in the numbers of the digital money lenders, the Federal Competition and Consumer Protection Commission (FCCPC), in conjunction with the Central Bank of Nigeria (CBN), last year published a list of more than 100 newly approved digital money lenders.
According to the report by the FCCPC, it was…