Connect with us

Hi, what are you looking for?

Metro

FG Shuts Down Illegal Online Banks, Freezes Business Accounts

The Federal Competition Consumer Protection Commission, FCCPC, in collaboration with the Independent Corrupt Practices and other Related Offences Commission, ICPC, National Information Technology Development Agency, NITDA and the Nigerian Police Force, on Friday, raided some illegal financial institutions operating on Opebi Road, Ikeja, Lagos.

Among the financial institutions affected were GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, Easy Moni.

The raid, the FCCPC said, was in response to customers’ complaints of malpractices by the financial institutions.

Speaking during the raid, the Chief Executive Officer, FCCPC, Babatunde Irukera, explained that customers had accused the financial institutions of violating their privacy in their debt recovery drive.

He said the agency had begun investigations into the allegations since 2020.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

Tech

Mastercard, in collaboration with the Committee of E-Banking Industry Heads for Nigeria (CeBIH), recently hosted the second edition of its annual Fraud Forum in...

News

Issues bordering on the need to strengthen the pharmaceutical supply chain and distribution leveraging digital technology, reducing the prevalence of fake medicines exacerbated by...

Tech

The .ng domain name, Nigeria’s country code top-level domain (ccTLD), is the nation’s critical resource in the digital space, says Adesola Akinsanya, the president...

Tech

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest...