The Nigerian Government on Friday raided the offices of “illegal” digital loan companies operating in Ikeja, Lagos, over alleged consumer rights abuse. The operation was led by the Federal Competition Consumer Protection Commission in conjunction with the Independent Corrupt Practices and other related offences Commission, the National Information Technology Development Agency and the Nigeria Police Force. The affected companies are GoCash, OKash, EasyCredit, Kashkash, Speedy Choice, Easy Moni, and Sokoloan. At the Sokoloan, which occupied two floors at 21 Opebi Road and was alleged to be owned by Chinese businessmen, the workers refused to open their doors and constrained the FCCPC operatives to break their locks. Speaking during the raid, the Chief Executive Officer of 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 ...
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