The Federal Competition and Consumer Protection Commission (FCCPC), says President Bola Tinubu’s credit scheme will help to close the gap and reduce vulnerability of Nigerians to unethical digital loan companies.
The Acting Executive Vice Chairman of FCCPC, Dr Adamu Abdullahi, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday.
Abdullahi who was reacting to unethical practices by some unregistered digital money lenders to their customers, said the scheme would grant Nigerians access to soft loans without collaterals.
He said the scheme would also help to reduce the rate at which Nigerians patronise unregistered loan applications that were prone to maiming and shaming their character.
The acting executive vice chairman said that although the Commission had registered some digital money lenders, most of them who were not registered had continued their unethical practices on their…
Source: Guardian Newspaper
