FG Approves 94 Companies as Digital Money Lenders in Nigeria
- The Nigerian government has released the names of newly approved digital money lenders
- Of the 94 approved lenders also known as loan apps, 49 got full approvals while 45 received provisional approval
- The FCCPC said the criteria used the granting the approvals include legitimacy, compliance with the anti-money laundering act, among others
The Federal Competition and Consumer Protection Commission (FCCPC) has approved and released the names of 94 companies as digital money lenders in Nigeria.
Out of the 94 approved money lenders, 49 received full approval while 45 received conditional approval.
Source: Getty Images
FCCPC stated in an update on its ongoing registration of digital money lenders in Nigeria targeting unlicensed money lenders and unregistered loan apps.
According to the Commission, it came with the temporary Regulatory/Registration Framework and Guidelines for Digital Lending in partnership with the Joint Task Force to enhance fair, transparent and healthy alternative lending options for Nigerians.
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The guidelines ask digital money lenders or loan apps to register with the FCCPC and complete two application forms.
Report say that one of the application forms requires companies to provide identification and operational information to the Commission and the other with information regarding legitimacy, compliance with necessary regulatory requirements, lawful source of funds and conformity with the anti-money laundering Act and Data protection laws.
The FCCPC gave digital money lenders 90 days deadline which was extended to January January 31, 2023.
Below are the approved money lenders in Nigeria
- SYCAMORE INTEGRATED SOLUTIONS LIMITED
- TRADE DEPOT
- TAJOW INVESTMENT
- BLUE RIDGE MICROFINANCE BANK LIMITED
- GROLATECH CREDIT LIMITED
- BRANCH INTERNATIONAL FINANCIAL SERVICES LIMITED
- P2VEST TECHNOLOGY LIMITED
- CREDITWAVE FINANCE LIMITED
- KEENEST TECH SERVICE LIMITED
- FAIRMONEY MICRO FINANCE BANK
- ALTRACRED FINANCE INVESTIMENT LIMITED
- CREVANCE CREDIT LIMITED
- MENACRED COMPANY LIMITED
- AFROWIDE DEVELOPMENT LTD
- RED PLANET NIGERIA LIMITED
- AFROFIRST MOBILE AND TECHNOLOGY COMPANY LIMITED
- RANKCAPITALS LIMITED
- IBS GOLDEN INVESTMENT COMPANY LIMITED
- LENDVISERY SERVICES LIMITED
- CREDITWAVE FINANCE LIMITED
- RENMONEY MICROFINANCE BANK LIMITED
- SWIPEBILL TECHNOLOGIES NIGERIA LIMITED.
- HOMETOWN FINTECH LIMITED
- GIASUN TECHNOLOGY NIGERIA LIMITED
- BE RESOURCES LIMITED
- ROCKIT LENDERS NIGERIA LIMITED
- PIVO TECHNOLOGY LIMIED
- YES CREDIT COMPANY LIMITED
- FUBRIL CENTURY LIMITED
- IRORUN TECHNOLOGIES LIMITED
- CSENSE LIMITED
- SUPREME HELP COOPERATIVE SOCIETY LIMITED
- ORCOM AND ORCOM BUSSINESS SUPORT LIMITED
- PAYHIPPO LIMITED.
- EASYCHECK FINANCE INVESTMENT LIMITED
- QUARK FINANCIAL NIGERIA LIMITED
- EDMOND SOLUTIONS COMPANY LIMITED
- TED ROCKET LIMITED
- PENAID LIMITED
- ARVE LIMITED
- DOVER CREDIT LIMITED
- RAGEKAY GLOBAL INVESTMENT LIMITED
- MAYWOOD LENDING LIMITED
- LINKPARK TECHNOLOGY NIGERIA LIMITED
- MANGNET LENDING LIMITED
- RUBYSTAR GLOBAL LIMITED
- BESTFIN NIGERIA LIMITED
- FUBRI CENTURY COMPANY LIMITED
- BERLY SPRING GLOBAL LIMITED
Companies with conditional approvals are stated below
- TRIPPDBASE LIMITED
- BLACKCOPPER SERVICE
- OWOAFAR FINTECH SERVICE
- PAYLATER HUB
- WINDVILLE FINANCIAL NIGERIA LIMITED
- AFROFIRST MOBILE AND TECHNOLOGY COMPANY LIMITED
- ORCOM AND ORCOM BUSINESS SUPPORT LIMITED
- OTP INTERNET TECHNOLOGY LTD
- RED HARBOR FINTECH LIMITED
- BERYL SPRING GLOBAL LIMITED
- HOMETOWN FINTECH LIMITED
- AJAX LENDING LIMITED
- RACEOVA NIG. LIMITED
- LANTANA TECHNOLOGY LIMITED
- THE PLATFORM DIGITAL NETWORK LIMITED
- ZIPPY CAPITAL LIMITED
- NEO-LINK TECHNOLOGY LIMITED
- TRIPOBASE LIMITED
- BESTFIN NIGERIA LIMITED
- POCKETFUEL FINANCE LIMITED
- LENDING EDGE LIMITED
- TED ROCKET LIMITED
- PENAID LIMITED
- ALTARA CREDIT LIMITED
- NEW CREDAGE NIGERIA LIMITED
- LENDHA TECHNOLOGIES LIMITED
- DOJA LEMAIRE GLOBAL LIMITED
- PAYDAYHUB ONLINE NIGERIA LIMITED
- RETAIL BOOSTER LIMITED
- FINNEW FINTECH LIMITED
- FEZOTECH NIGERIA LIMITED
- ORANGE LOAN & PURPLE CREDIT LIMITED
- CITADELE CAPITALS LIMITED
- FEWCHORE FINANCE COMPANY LIMITED
- A1 CAPITAL SOLUTION LIMITED
- ONE PAYOUT LIMITED
- LINKPARK TECHNOLOGY NIGERIA LIMITED
- LIDYA GLOBAL LIMITED
- PHOENIX PAYMENT SOLUTIONS LIMITED
- RED PLANET NIGERIA LIMITED
- KWABA INTERNATIONAL LIMITED.
- MAYWOOD LENDING LIMITED.
- PRINCEPS CREDIT SYSTEM LIMITED
- LINKPARK TECHNOLOGY NIGERIA LIMITED
- FINPADI TECHNOLOGIES LIMITED
Nigerian government asks Google, Apple to delete loan sharks From Stores, List Defaulting Apps
Recall that Legit.ng reported that the Nigerian government, via the Federal Competition and Consumer Protection Commission (FCCPC), has asked Google and Apple to delete about four loan apps from their stores.
The FCCPC said the loan apps engaged in unethical practices against its laid down procedures.
The affected apps include Maxi Credit, Here4U, Chacha and SoftPay.
Source: Legit.ng
