Nigerian Government Bars Illegal Online Banks 

The Federal Competition and Consumer Protection Commission has approved 173 digital lending applications to operate in the country. <br />Of the 173, 119 have full approvals and 54 have conditional approvals. After loan apps started harassing Nigerians, the FCCPC began a registration drive to protect citizens from the atrocities of these apps. <br />The FCCPC says the inter-agency Joint Regulatory and Enforcement Task Force has developed and mutually adopted a Limited Interim Regulatory/ Registration Framework and Guidelines for Digital Lending, 2022 as the first and interim step to establishing a clear regulatory framework. <br />