The Federal Competition and Consumer Protection Commission (FCCPC) has announced the formation of a joint committee to combat illegally operating businesses and harassing customers.
Mr Babatunde Irukera, the FCCPC Chief, said this on Sunday in Abuja.
The FCCPC, the Central Bank of Nigeria (CBN), and the Economic and Financial Crimes Commission are all represented on the team (EFCC).
The National Information Technology Development Agency (NITDA) and the National Human Rights Commission are among the others (NHRC).
The committee’s task is to draft standards that money lending companies must follow.
They will close firms and work with app to remove infringing and abusive programs.
“We’ll also be establishing interim regulations and some basic information for all of these money lenders so that consumers know who they are,” she says.
“Some of them are just Apps that we do not even know who the promoters are. We are going to provide certain frameworks for them to comply with‘’, Irukera added.
On complaints about insurance companies’ services, Irukera said a Memorandum of Understanding (MoU) with the National Insurance Commission (NAICOM) was underway.
The FCCPC chief gave early 2022 as the time-frame of delivery of the bilateral agreement.
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