Prospective applicants of online money lenders who were unable to conclude registration on November 14, 2022 have been given a window opportunity till January 31, 2023 to conclude the exercise.
This was disclosed on Friday, in a statement issued by the Chief Executive Officer, Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera.
According to Irukera, the commission considered that some online money lenders were still in the process of their registration and extended the deadline to January 31, 2023.
The FCCPC boss said, ”On Aug. 18 in furtherance of the collaboration of the Inter-Agency Joint Task Force, the FCCPC conducted enforcement actions in Lagos with respect to certain DMLs.
”In view of the desire to promote fair, transparent, and beneficial alternative lending opportunities, the Joint Task Force (JTF) established a mutually adopted Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022.
”Subsequently, the commission commenced the registration of DMLs.
”By an Order and Notice of the Commission on Aug. 17, existing DMLs were required to comply in not later than 90 days to confirm their business is uninterrupted.
”The commission has also created a publicly accessible list of the DMLs that have been granted approvals/conditional approvals.’’
The CEO said the list of DMLs gave approval would be updated regularly and could be accessed on the commission’s portal.
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