The Federal Competition and Consumer Protection Commission (FCCPC) has frozen over 30 bank accounts operated by illegal loan comapnies in Nigeria.
The Executive Vice Chairman of FCCPC, Mr Babatunde Irukera, revealed to the press at a media engagement in Abuja on Tuesday.
According to Irukera, the Commission had engaged Google and Apple Stores to take down some loan applications from their stores.
He stated 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.
On March 11, 2022, the FCCPC along with two other federal government agencies raided the premises of illegal loan companies such as GoCash, Okash, EasyCredit, Easi Moni, KashKash, and Speedy Choice.
