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Loan Apps Face Crackdown as FCCPC Enforces 2% Cap
The Business NG
|The BusinessNG
The Federal Competition and Consumer Protection Commission (FCCPC) has rolled out fresh regulations to monitor and curb exploitative interest rates charged by Nigeria's digital lenders, triggering backlash from operators in the booming loan app market.
The new directive, contained in the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations 2025, empowers the Commission to track lending rates and ensure they are n
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