The Federal Government, through the Federal Competition and Consumer Protection Commission (FCCPC), has approved over 100 new loan applications in the past 12 months......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Checks by Legit.ng on the FCCPC website showed that there are a total of 322 fully approved loan apps in Nigeria as of Wednesday, February 19, while those with conditional approvals were 42.
As of January 2024, the total number of companies that had been fully approved stood at 211, while those with conditional approvals were 40.
What this means is that in the last year, loan apps in Nigeria have increased by 111 and conditional approvals by 2.
The increase indicates that new companies are coming up to secure FCCPC’s approval for the digital lending business amid harsh economic conditions.
Many Nigerians can barely survive on their salaries and have to resort to taking loans from digital lenders until their next pay.
Some of the names of newly approved loan apps include:
FCCPC places 88 loan apps under a watchlist
Furthermore, FCPCC said 88 loan apps and companies are currently on its watchlist before final approval, which is an increase from 84 listed as of 2024.
Some of the loan apps are:
Also, in the FCCPC list, 16 companies have received unconditional approval because they are licensed by the Central Bank of Nigeria.
Some of the apps include:
A full breakdown of the apps authorised by the government to provide loans can be found here.
Man demands N3m as repayment after borrowing friend
Legit.ng reported that a Nigerian man has got people talking after sharing an ongoing case between him and his friend.
He stated that he borrowed his friend N1,250,000 for 3 years and had not been repaid as promised.
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In a tweet by @hackSultan on X, the man said his friend always came up with stories and excuses when the money matter arose.