The Federal Government, represented by the Federal Competition and Consumer Protection Commission, has demanded that Google eliminate 18 digital loan apps from its Play Store.
These apps are allegedly operating without proper approval or are in violation of the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022.
The commission emphasized that only digital money lenders with valid regulatory authorization are allowed on the platform. On Wednesday, the FCCPC listed the apps to be removed, and Google was ordered to take immediate action.
Failure to comply with the guidelines could result in permanent delisting and possible legal actions. Recently, the commission has been cracking down on illegally operating loan apps and safeguarding Nigerian consumers from harassment. On July 20, 2023, it delisted some registered digital money lenders for non-compliance.