- Safiu Kehinde
The Federal Competition and Consumer Protection (FCCPC) has unveiled how to stop harrasment from loan companies and unfair businesses in Nigeria.
The agency, in a paid advert attached to a post shared on its X handle on Friday, sensitized consumers on how to file complaint on any form of harrasment from the loan companies.
As contained in the post, victimized customers are to lodge their complain through the agency’s official website, fccpc.gov.ng, or email contact@fccpc.gov.ng and send notification via Direct Message for tracking.
FCCPC held that no consumer should live in fear while reiterating its commitment in ensuring that consumers’ rights are protected and businesses play fair.
According to reports, many Nigerians have complained about the harassment they are subjected to by these loan sharks.
Several victims have overtime recounted their harrowing ordeal in the hands of loan companies over inability to meet up with repayment.
In desperate effort to force customers to pay, several loan companies have over the years deploy threat messages tactics to sacre erring customers.
Some go to the extent of threat immediate relatives and friends of a debtor.
A 2023 report by Nairametrics narrated how, customer had shared his experience with one of the loan app providers listed on the Play Store, fearing that he might be defamed at any time.
The undisclosed customer showed message evidence from 9jcash, a loan app, which read: “You will regret collecting this loan now.”
Another registered loan app provider, NowNowmoney, sent the following message to one of its customers; “Our agents have been calling and yet payment has not been made. Make a transfer now to the Wema Bank account provided and save your reputation. Failure to make payment now might ruin your reputation and respect. Do the right thing now and clear your debt.”
Steady Cash another provider, which is also on the Google Play Store and registered by the FCCPC, sent this to one of its customers:
“It is either you make your payment now or face the consequences because we are sick and tired of your lies, your BVN will be exposed, and your account placed on auto debit. Your contacts will be informed of your shameful exhibition…Please be warned.”
In another more disturbing development, a customer of Mint Credit lamented how his entire family is currently being defamed by the loan app provider for a loan he took by sending messages to all his contacts, which read; Beware of the family of…. (The debtor’s family name is mentioned), mother, father, and sister are chronic criminals and fraudsters. They dupe a company with some money, and they are refusing to pay. He has been declared wanted. If you know him, tell him to pay his debt.”
However, the past year saw the FCCPC vowed to take drastic measures in curbing the menace of the loan companies.
The then Acting Chairman of the Commission in 2024, Adamu Abdullahi, disclosed plan to begin the process of blocking loan apps that harass their customers.
”It would soon be history in the country that online platforms that many people know as loan sharks, where some Nigerians access money quickly to solve urgent issues,” Abdullahi said in an interview with BBC.
“However, if they don’t pay back on time, some of these loan companies send unpleasant messages with their picture to all their contacts.
“This harassment has caused many problems in Nigeria, as some people even lose their jobs because of embarrassment and disgrace.” He added.