FG Approves 94 Firms as Digital Cash Lenders in Nigeria

  • The Nigerian authorities has launched the names of newly authorized digital cash lenders
  • Of the 94 authorized lenders often known as mortgage apps, 49 obtained full approvals whereas 45 obtained provisional approval
  • The FCCPC stated the standards used the granting the approvals embody legitimacy, compliance with the anti-money laundering act, amongst others

The Federal Competitors and Shopper Safety Fee (FCCPC) has authorized and launched the names of 94 corporations as digital cash lenders in Nigeria.

Out of the 94 authorized cash lenders, 49 obtained full approval whereas 45 obtained conditional approval.

Loan apps FCCPC, Federal government
FCCPC Chairman, Babatunde Irukera
Credit score: courtneyk
Supply: Getty Photographs

FCCPC said in an replace on its ongoing registration of digital cash lenders in Nigeria concentrating on unlicensed cash lenders and unregistered mortgage apps.

In response to the Fee, it got here with the short-term Regulatory/Registration Framework and Pointers for Digital Lending in partnership with the Joint Activity Pressure to boost truthful, clear and wholesome different lending choices for Nigerians.

The rules ask digital cash lenders or mortgage apps to register with the FCCPC and full two utility kinds.

Report say that one of many utility kinds requires corporations to offer identification and operational info to the Fee and the opposite with info relating to legitimacy, compliance with essential regulatory necessities, lawful supply of funds and conformity with the anti-money laundering Act and Knowledge safety legal guidelines.

The FCCPC gave digital cash lenders 90 days deadline which was prolonged to January January 31, 2023.

Under are the authorized cash 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

Firms with conditional approvals are said under

  • 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 authorities asks Google, Apple to delete mortgage sharks From Shops, Listing Defaulting Apps

Recall that Legit.ng reported that the Nigerian authorities, through the Federal Competitors and Shopper Safety Fee (FCCPC), has requested Google and Apple to delete about 4 mortgage apps from their shops.

The FCCPC stated the mortgage apps engaged in unethical practices towards its laid down procedures.

The affected apps embody Maxi Credit score, Here4U, Chacha and SoftPay.

Supply: Legit.ng



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