FG delists 18 illegal loan apps - Punch Newspapers

Listing the deleted apps, the FCCPC said, “Accordingly, the commission has entered a further order requiring Google to immediately remove, withdraw, or drawdown the following apps:

It noted that some digital money lenders were relying on Android Package Kits file formats to reach consumers outside of Google Playstore, to evade or avoid regulatory compliance. Commenting on a move to sanction more erring apps, Irukera stated, “Compliance with the guidelines is mandatory for all DMLs regardless of whether they intend to be placed on Playstore, operate by APK file formats or any other means for that matter. Failure to comply with the Guidelines is a violation of law and renders any such operation illegal.

“Also, all existing and approved DMLs providing digital lending services through APK file formats in addition to Playstore, are required to provide evidence that such APK operations are in compliance with the law.”

Source: Loan Digest (loandigest.net)

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

France begins evacuation of citizens from Niger Tuesday - Punch NewspapersFrance will begin evacuating its nationals from Niger on Tuesday, the foreign ministry said, after a coup last week toppled the country
Source: MobilePunch - 🏆 8. / 63 Read more »

BREAKING: Tribunal reserves judgment on Atiku's petition - Punch NewspapersThe presidential tribunal sitting in Abuja on Tuesday has reserved judgment on the petition filed by the Peoples Democratic
Source: MobilePunch - 🏆 8. / 63 Read more »

Kano hospitals mgt board sacks three CMDs, suspends doctors, nurses - Punch NewspapersThe Executive Secretary of the Kano State Hospitals Management Board, Dr. Mansur Nagoda, has approved the removal of the Chief Medical
Source: MobilePunch - 🏆 8. / 63 Read more »

Protest: IG orders watertight security nationwide - Punch NewspapersThe acting Inspector-General of Police, Olukayode Egbetokun, has ordered watertight security nationwide over planned protests by
Source: MobilePunch - 🏆 8. / 63 Read more »

UPDATED: Tribunal reserves judgment on Atiku's petition - Punch NewspapersThe presidential tribunal sitting in Abuja on Tuesday has reserved judgment on the petition filed by the Peoples Democratic Party
Source: MobilePunch - 🏆 8. / 63 Read more »

PDP knocks Tinubu over State of the Nation broadcast - Punch NewspapersThe Peoples Democratic Party has described President Bola Tinubu's State of the Nation address, on Monday, as a horrifying
Source: MobilePunch - 🏆 8. / 63 Read more »