Tag: moneylender law

Just like other States of Nigeria and the Federal Capital Territory, Abuja, a Money Lender’s Licence can be obtained in Rivers State. Unlike Lagos giochi carte spider State, where the procedure for Money Lender’s license is quite bureaucratic and very formal, the procedure in Rivers …

IS THERE A SPECIAL LICENCE FOR A MONEY LENDER COMPANY IN GHANA? Yes. No person shall carry on the business of micro lending or finance business in anywhere within Ghana unless the Bank of Ghana licenses it to do so. Ghana is becoming a destination …

Introduction The Money Lending business in Nigeria has witnessed a paradigm shift particularly in the way money lenders do their business. Moreso, is the aggressive campaign by the Federal Competition Consumer Protection Commission (“FCCPC”) in collaboration with other law enforcement agencies to bring sanity into …

Aggressive Regulatory Enforcement against Unregistered Money Lenders In our earlier Koriat’s Update on Fintech Lending Law in Nigeria (January 2022), we provided update that the Federal Competition and Consumer Protection Commission (“FCCPC”) had announced that a Joint Committee (comprising federal regulators and law enforcement agencies) was set …

1. Strong Regulatory Supervision Builds up in the Fintech Lending Industry In November 2021, the Federal Competition and Consumer Protection Commission (“FCCPC”) announced that a Joint Committee was set up by the Federal Government to tackle violation of consumer rights and unfair practices in the money …

1. The current trends of Money Lenders’ operations in Nigeria The year 2022 will be an important milestone in the history of money lending business in Nigeria. As of the time of this publication, 1st week of December 2021, money lenders operate with unfettered freedom and …