The Federal Competition and Consumer Protection Commission, FCCPC, has moved against Digital Money Lenders, DMLs, violating its regulations.
Adamu Abdullahi, acting Executive Vice Chairman/Chief Executive Officer of FCCPC, disclosed this in a statement on Monday, noting an upsurge in violations of its regulations by DMLs.
According to him, the Commission is intensifying enforcement efforts and adopting a zero-tolerance stance towards exploitation of consumers and other abusive conduct by DMLs.
Recall that in August last year, the Commission delisted 18 DMLs over violation of its regulations.
The Commission had hinted that it would unveil fresh regulations for DMLs in 2024.