The Federal Competition and Consumer Protection Commission (FCCPC) on Monday said there has been about 80% reduction in harassment and defamatory messages from Digital Money Lenders, otherwise known as Loan Apps.
The Chief Executive Officer of the Commission, Mr. Babatunde Irukera, who disclosed this on Monday while featuring on a TVC live program however said efforts are ongoing to address the remaining 20%.
Irukera attributed the reduction achieved to implementation of its interim framework.
He added that the limited and interim regulatory framework for the loan apps is still evolving because fintech is new and emerging across the world.
