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FCCPC delists two digital money lenders, sets deadline for others

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FCCPC delists two digital money lenders, sets deadline for others

FCCPC delists two digital money lenders, sets deadline for others

The Federal Competition and Consumer Protection Commission (FCCPC) has de-listed two Digital Money Lenders (DMLs) for illegal, prohibited and unregulated activities.

The Executive Vice Chairman of FCCPC, Mr Babatunde Irukera said in a statement on the Commission’s official Twitter handle on Friday, that it had also set a deadline for all DMLs to comply with its regulations.

Irukera said the two delisted DMLs engaged in deception to attract borrowers.

“The Commission notes a resurgence in the occurrence of prohibited loan recovery methods and practices in the past weeks.

“The Commission has now permanently delisted Sycamore Integrated Solutions Limited and Orange Loan and Purple Credit Limited, along with their respective apps “Getloan” and “Camelloan”.

“FCCPC has entered an Order to Google Playstore and other payment and financial service providers, permanently prohibiting the provision of any services associated with digital lending to the companies.

“The Commission reiterates that this revocation and action are permanent without option or opportunity of reconsideration, and the same consequence shall apply to all other violators,” he said.

Irukera said the commission would forward all information and evidence concerning the two companies’ activities to law enforcement agencies and other regulators for appropriate action.

He, therefore, warned consumers against dealing with the two de-listed loan companies.

The executive vice chairman said that the commission had with the approval of the Joint Regulatory and Enforcement Task Force, established the Limited Interim Regulatory and Registration Framework and Guidelines for Digital Lending.

He said the guidelines have given Nov. 14 deadline for all DMLs in business and on Google Playstore to comply with the guidelines or risk removal from Playstore.

Irukera assured Nigerians that the FCCPC would continue to scrutinise all listed DMLs and periodically update the list on its website, to ensure that only businesses that consistently and completely comply with the regulations were allowed to do business.

He advised consumers to patronise only DMLs on the commission’s approved list.

FCCPC delists two digital money lenders, sets deadline for others
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Foreign

Trump says he will impose tariffs on China, Mexico, and Canada

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U.S. President-elect Donald Trump on Monday said that, once he returns to the White House, he will impose high import tariffs on all goods from Mexico and Canada as well as additional tariffs on Chinese imports.

Trump said on Truth Social, the social media platform he co-founded, that he would sign an executive order to that effect on his first day in office.

“On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25 per cent Tariff on ALL products coming into the United States, and its ridiculous Open Borders,” Trump said.

He added that the tariff would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”

“Both Mexico and Canada have the absolute right and power to easily solve this long-simmering problem,” Trump said.

“We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!”

The president-elect also said that additional tariffs of 10 per cent are to apply to goods from China until drugs stop “pouring into our Country, mostly through Mexico.”

“I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail,” Trump said.

“Representatives of China told me that they would institute their maximum penalty that of death, for any drug dealers caught doing this but, unfortunately, they never followed through, and drugs are pouring into our Country, mostly through Mexico, at levels never seen before.”

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Agriculture

News flash: Port Harcourt refinery begins operation

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Port Harcourt Refinery Recommences Operation After Years Of Shutdown

The Port Harcourt Refinery, managed by the Nigerian National Petroleum Company Limited (NNPC Ltd.) through the Port Harcourt Refining Company Limited (PHRC) has commenced operations after undergoing rehabilitation and modernisation.

The refinery with 210,000 bpd refining capacity located at Alesa, Eleme, in Port Harcourt, comprises two operational units which were established in 1965 and 1989.

The News Agency of Nigeria (NAN) reports that the old plant refines a capacity of 60,000 barrels per day (bpd), while the new plant refines 150,000 bpd.

It would be recalled that the Federal Government, under former President, Muhammadu Buhari, had in March 2021 secured a 1.5 billion dollars loan to rehabilitate the facility which contract was awarded to an Italian firm, Tecnimont S.P.A, a subsidiary of Maire Tecnimont Group.

NAN) reports that Malam Mele Kyari, the Group Chief Executive Officer of NNPC Ltd. is leading the team to inspect the first lifting of petroleum product from the facility after its rehabilitation.

 

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NAPTIP to establish command in FCT to tackle violence, SGBV cases

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NAPTIP urges stiffer penalties for rape

The National Agency for the Prohibition of Trafficking Persons (NAPTIP) says it is proposing the establishment of a command in the Federal Capital Territory (FCT) to tackle cases of Violence against Persons (VAP).

The Director-General of the agency, Mrs Binta-Adamu Bello, disclosed this on Monday in Abuja during the 2024 stakeholder’s coordination meeting on implementation of the Violence Against Persons Prohibition (VAPP) Act 2015 and corresponding state laws.

The News Agency of Nigeria (NAN) reports that the meeting was supported by Ford Foundation to commemorate the first day of the 2024 Global 16 Days of Activism, an annual campaign to challenge violence against women and girls.

The NAPTIP boss said that the establishment of the FCT command would further solidify the agency’s commitment toward eradicating social menace, especially with the issue of Sexual and Gender-Based Violence (SGBV) in the nation’s capital.

According to the NAPTIP boss, it is expected that the command will enhance quicker response to SGBV cases, improve coordination among stakeholders, provide specialised support services for survivors and strengthen investigation and prosecution.

She said that the command would serve as a model for other states and strengthen stakeholders’ collective efforts to eradicate SGBV within the FCT, while inviting the stakeholders’ input and expertise in facilitating the move.

She said “I have strong conviction that we will leave here with renewed vision toward eradicating the ills associated with violence against persons and in turn, make the country safer and more habitable.

“It is gratifying to note that this meeting is holding on the first day of the Global 16 Days of Activism, which is an annual campaign to challenge violence against women and girls.

“The theme for this year is “Towards Beijing +30: Unite to End Violence against Women and Girls”, which resonates with the 30th anniversary review of the implementation of the Beijing Declaration and platform for action.

“At this point, I must commend the efforts of Ford Foundation for graciously supporting this meeting under the project “Strengthening Government Approach in Preventing and Responding SGBV.”

She reiterated NAPTIP’s commitment to work with states, the mandate Secretary of the Women Affairs Secretariat of the FCT and Civil Society Organisations to implement laws that abhor

Violence against women and girls.

Mrs Tolulola Odugbesan, the acting Director, VAP Department, NAPTIP, said that the coordination meeting was an opportunity for stakeholders to connect, proffer guidance, reflect on concerns, review successes and identify gaps.

She added that the meeting was also to discuss challenges, assess the level and effectiveness of intervention efforts and proffer recommendations and far-reaching strategies associated with the implementation of the VAPP Act 2015.



 

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