The Federal Competition and Consumer Protection Commission (FCCPC), says it has frozen no fewer than 30 bank accounts operated by illegal loan organisations.
Mr Babatunde Irukera, the Executive Vice Chairman of the Commission, said this at a media engagement in Abuja on Tuesday.
Irukera also said that the Commission had engaged Google and Apple Stores to take down some loan applications from their stores, noting that there were certain processes required for that to happen.

He said that the Commission was currently engaging three major loan companies which businesses had been affected by the Commission’s raid.

“The day we conducted the raid, we have some limited information about the bank accounts that some of the loan companies operated.

“All the bank accounts that were provided were immediately blocked but these companies operate multiple bank accounts with multiple names.

“Between the time we raided and now, we have discovered additional 30 accounts and all have been frozen and we will continue to freeze as we discover them.

“I am certain that with the actions that we have taken and the nature of the engagement we are having with the loan companies, at least three of the major ones that their businesses have been severely affected by either our search or the account closure, they are modifying.

“It will take some time but I can assure you that the space is changing now,’’ he said.

Irukera called for an improved partnership with the media to educate members of the public on their consumer rights in order to achieve the objectives of the FCCPC.

Source:

https://applesbite.com/commission-freezes-over-30-accounts-of-illegal-loan-companies/

Better

Story story..all the loan apps are still operating fully...

Let's see what changes it all brings to bear

Audio frozen on paper. Na everyday new company dey come up. Naija govt no get level.

Don't be surprised that Buhari will borrow the money.

Those defamators of character needs to be wiped out of our space.

Nigerian officials will make you think anthills are mountains.
Problems with very simple solutions, they'll just be going back and forth, making it look like rocket science.

Engage the victims. They'll list out names of the companies they borrowed from.

Communication were made during these transactions. Get the phone numbers the companies used in contacting and defaming their client. Get NCC to provide the details of the subscribers that were registered to those SIM cards. Engage the police to track where the calls were frequently made from, you will either have their office location, or their house address.

These accounts were opened with documents. There must be CAC documents, proof of address and BVN of directors before corporate accounts are opened. Get the bank to provide the account opening packages for these accounts.
With all these, you already know the owners of the companies...

Just like the government did during the clampdown on crypto, give banks directive to close down any account used for disburments and repayments.

Finnally, like we saw in the Moshood Abiola Stadium two days ago, just identify their office and let Nigerians know their location.. Nigerians know how to handle these type of matter by themselves.

The same way they're handling this matter cluelessly is the same way they're handling the economy, security and power, and this is why we're not moving forward as a nation.

Thier debtors will be feeling right now like lala on a snake post.

Onigbese will be very happy now

Okay

Currently owing one of the loan companies 21987 which is the 4th and last trech to be paid.
I took the loan to resuscitate my small scale business but it didn't work out.

I need every help to raise money.. I would be glad for any kind of favor from Nairalanders

Revolution2022:
Don't be surprised that Buhari will borrow the money.

Smiles

Some people are happy
But it is wrong to borrow money without paying back, the bible calls such people that do that as wicked people.

Go and pay your debt!

Okay..... check my signature for my work

What are the name of those companies because easy money has being threatening me since 3 says ago that if I don't pay they 27,000 they are going to disgrace me. At a time, one of the agents that chat me yesterday said if I didn't pay today they will take action. With that anger I told him to go to hell, that you people have being doing it to people and go free, try it with me and see the bad side of this world. After I sent those messages, he haven't chat again. So am waiting for the worst today

BigMoneyeye:
Currently owing one of the loan companies 21987 which is the 4th and last trech to be paid.
I took the loan to resuscitate my small scale business but it didn't work out.

I need every help to raise money.. I would be glad for any kind of favor from Nairalanders

Seriously? Sell ur phone and pay them

God development. I think this should deter them from defaming people upadan.

On a lighter note, Nigeria should learn to repay their loan on time cos whats the essence of borrowing a loan if u can’t pay

Good

The borrowers that couldn't pay back will be happy now.....
chai.....
That company will loss big time now....

jacoik:
What are the name of those companies because easy money has being threatening me since 3 says ago that if I don't pay they 27,000 they are going to disgrace me. At a time, one of the agents that chat me yesterday said if I didn't pay today they will take action. With that anger I told him to go to hell, that you people have being doing it to people and go free, try it with me and see the bad side of this world. After I sent those messages, he haven't chat again. So am waiting for the worst today

typical Nigerian not wanting to pay back. Instead of coming to nairaland to complain why not channel the energy in getting the money to pay back. You think nairaland will save you when they come for you.?

CaptMarvel:
Some people are happy
But it is wrong to borrow money without paying back, the bible calls such people that do that as wicked people.

Go and pay your debt!

Those loan companies self be thief, u don't just borrow every Tom,dick and Harry money, once u have a phone, these companies will borrow u money, they don't care if u stole the phone or not

tamdun:

Seriously? Sell ur phone and pay them

Thanks for the advice bro. I have given it a thought but it's not feasible. The phone I use is not even worth 15k if I were able to sell it

At least let them be regulated and proper loan repayment collection mechanism be set-up

jacoik:
What are the name of those companies because easy money has being threatening me since 3 says ago that if I don't pay they 27,000 they are going to disgrace me. At a time, one of the agents that chat me yesterday said if I didn't pay today they will take action. With that anger I told him to go to hell, that you people have being doing it to people and go free, try it with me and see the bad side of this world. After I sent those messages, he haven't chat again. So am waiting for the worst today

Good attack ,report them to FCCPC,meantime try to pay your loan

Picadelly:
Story story..all the loan apps are still operating fully...

Exactly, everything na audio for Nigeria.
They are still calling, messaging and threatening me

FCCPC weldone,welcomed action. Make available your contact for people to get in touch with your offices to lodge complaints about the loan company's and there evil effects.
Help us there are fake and substandard products in the market

Just drop your email,I will download all the loan apps,get thier repayment bank accounts then email it to you.

I will love them to be closed down and jail if possible.
Nigeria should provide jobs for the youth