On 2nd of August, 2023, the Federal Competition & Consumer Protection Commission (“FCCPC”) issued a new directive that all previously approved digital money lenders in Nigeria must revalidate the information they submitted to the FCCPC. The foregoing means that existing loan companies in Nigeria must re-register their loan Apps with the FCCPC otherwise they will be penalized, their Apps will be deactivated and deleted them from Playstore and all payment gateway companies in Nigeria, on the order of the FCCPC, will block the affected loan Apps from processing payments to customers. Registration with the FCCPC or revalidation of loan Apps … Continue reading REVALIDATION OF LOAN APPS WITH FCCPC IN NIGERIA