BMO lauds FG’s banning of illegal loans apps operations

The Buhari Media Organisation (BMO) has applauded the decision of President Muhammadu Buhari’s administration to stop online lending apps from harassing Nigerians unnecessarily.Information Guide Nigeria

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, the group said that the approval granted 173 digital lending applications to operate in the country will help sanitize the lending space.

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The group added, “It is no longer news that a section of Nigerians has over the years been exploited and subjected to ridicule by illegal loan apps after signing on to these apps’ services.JAMB Result

”But this is about to end with the decision of the Federal Government, through the Federal Competition and Consumer Protection Commission (FCCPC), to put an end to the development by approving 173 loan apps.
“The decision to moderate the digital lending space is a welcome one especially as access to credit is one service that is key to financial inclusion.

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“It is good to know that apps that are not approved by the Federal Government would be taken off Playstore by Google and be unavailable for downloads.JAMB Portal

“We invite Nigerians to know that the move is in line with the demonstrable commitment of the Buhari administration to protect the average Nigerian from exploitation.NYSC Portal

“We are hopeful that the regulators will ensure proper enforcement of the necessary laws to ensure that the approved lending apps accord Nigerians seeking their service, the respect they deserve.”