The rise of digital money lending platforms in Nigeria has brought both convenience and challenges to borrowers. While these platforms initially provided a lifeline to many Nigerians during the COVID-19 lockdown, instances of harassment and defamation of customers by certain lenders have become disturbingly common.

The Federal Competition and Consumer Protection Commission (FCCPC) has taken a firm stance against online loan sharks and committed to permanently removing digital lending apps engaged in harassment and slander from the Google Play Store. This decisive action by the FCCPC safeguards the rights and well-being of Nigerian consumers, ensuring that borrowers are not subjected to harassment or defamatory practices.

It is important to strike a balance between holding lenders accountable and fostering responsible lending practices without stifling innovation. Collaboration between the FCCPC and other relevant government agencies, along with raising consumer awareness, establishing self-regulatory mechanisms, and robust monitoring, will contribute to creating a sustainable and consumer-friendly digital lending industry in Nigeria, free from harassment and exploitation.