Nigeria’s consumer regulator urges citizens to report harassment by loan apps

Nigeria’s consumer protection watchdog has called on citizens to report digital lenders and businesses that harass or intimidate them over unpaid debts.

It warmed that no consumer should be subjected to fear.

The Federal Competition and Consumer Protection Commission (FCCPC) said that while borrowers are obliged to repay loans, debt collection must comply with the law and respect consumer rights.

“No consumer should live in fear,” the FCCPC said in a statement.

It added that it was intensifying enforcement against companies engaging in harassment, defamation, or privacy breaches in loan recovery practices.

The FCCPC has previously sanctioned several online lenders and ordered app stores to delist platforms found guilty of violating consumer rights. It said it would continue monitoring and urged citizens to file complaints through its website and helplines.

Digital lenders have gained popularity in Africa’s most populous nation, where millions lack access to traditional banking services, but regulators say stronger oversight is needed to balance financial inclusion with consumer protection.

CBI News reports that Nigeria’s fast-growing digital lending sector has come under scrutiny in recent years following widespread complaints that lenders send threatening messages or contact borrowers’ friends and family in pursuit of repayment.