The Federal Competition and Consumer Protection Commission (FCCPC) has released a notice to assist Nigerians in reporting loan apps that harass their customers.
Loan apps became more popular in Nigeria after the emergence of President Muhammadu Buhari as citizens depend on them (loan apps) for swift financial help.
However, when borrowers are unable to repay on time, some of these lenders resort to harassment tactics, which often include sending embarrassing messages—complete with photos—to the borrowers’ contacts.
In some cases, the publish the photo of their debtor with a message that the person is sick or a wanted armed robber.
In April 2024, BBC Pidgin reported that this harassment had resulted in severe consequences, with some victims even losing their jobs due to public shaming and humiliation.
Previous reports indicated that the FCCPC was taking measures to block loan apps that engage in such abusive practices.
On Friday, the FCCPC reaffirmed its dedication to consumer protection by offering guidance on how to report these lenders.
“Are you being harassed by loan apps or unscrupulous businesses? No consumer should live in fear! The FCCPC is here for you, ensuring your rights are upheld and businesses operate fairly,” the message posted on X stated.
How to report harassing loan apps:
- Email FCCPC: Send your complaint to [email protected].
- Social Media: Send a direct message to FCCPC on X.
- To report on the FCCPC website, log on to
- Click on Menu
- Click on File a Complaint
- Enter Date, Name (in Complaint Reported By), Contact Address, Mobile Number, Email
- Enter the name of loan app in ‘Complaint reported Against’, the Contact Address of Loan Apps, Phone Numbers, Email
- In ‘Cost of Purchase’, enter the loan amount.
- Then enter the Receipt Number (of Product/Service) Account Number/ Meter Number (Where Applicable)
- Enter Warranty details if relevant.
- Briefly state your complaint in the designated box.
- In the Prayers section, specify your request for redress.
- There is also an option to “Upload Files (Files to be uploaded should be saved with the same name you filled in the ”complaint reported by” section otherwise, it wouldn’t be attended to).”
- You can then submit.