The Federal Competition and Consumer Protection Commission (FCCPC) has released a list of 173 companies approved to provide digital lending services in Nigeria.
In a statement released by FCCPC on its website on the 8th of April 2023, 129 companies were given full approval, while 49 were given conditional approval. The digital money lenders were given till March 27, 2023 to register with the commission.
The FCCPC is the regulatory authority responsible for, among other things, the administration and enforcement of the Federal Competition and Consumer Protection Act 2018 (the Act). It released a ‘Limited Interim Regulatory/ Registration Framework and Guidelines for Digital Lending 2022’ to regulate the digital lending space and make registration and approval a prerequisite for companies seeking to operate in the space.
The FCCPC has been on the warpath with unlicensed digital lenders since last year. In conjunction with the
Independent Corrupt Practices and Other Related Offences Commission (ICPC), the National Information Technology Development Agency(NITDA) and the Nigeria Police Force (NPF), the commission raided some digital lending firms allegedly violating consumer rights.
To curb the corrupt practices of these unlicensed digital lenders, it mandated all companies involved in the digital lending industry to register with it for approval.
With the conclusion of the registration, Google will also remove all unregistered loan apps in Nigeria from the Play Store.
Approved money lenders
Below is a list of the digital money lenders that have registered and secured approval from the FCCPC:
Full Approval
- SYCAMORE INTEGRATED SOLUTIONS LIMITED
- TRADE DEPOT
- TAJOW INVESTMENT
- BLUE RIDGE MICROFINANCE BANK LIMITED
- GROLATECH CREDIT LIMITED
- BRANCH INTERNATIONAL FINANCIAL SERVICES LIMITED
- P2VEST TECHNOLOGY LIMITED
- CREDITWAVE FINANCE LIMITED
- KEENEST TECH SERVICE LIMITED
- FAIRMONEY MICRO FINANCE BANK
- ALTRACRED FINANCE INVESTMENT LIMITED
- CREVANCE CREDIT LIMITED
- MENACRED COMPANY LIMITED
- AFROWIDE DEVELOPMENT LTD
- RED PLANET NIGERIA LIMITED
- AFROFIRST MOBILE AND TECHNOLOGY COMPANY LIMITED
- RANKCAPITAL LIMITED
- IBS GOLDEN INVESTMENT COMPANY LIMITED
- LENDVISERY SERVICES LIMITED
- RENMONEY MICROFINANCE BANK LIMITED
- SWIPEBILL TECHNOLOGIES NIGERIA LIMITED
- HOMETOWN FINTECH LIMITED
- GIASUN TECHNOLOGY NIGERIA LIMITED
- BE RESOURCES LIMITED
- ROCKIT LENDERS NIGERIA LIMITED
- PIVO TECHNOLOGY LIMIED
- YES CREDIT COMPANY LIMITED
- IRORUN TECHNOLOGIES LIMITED
- CSENSE LIMITED
- SUPREME HELP COOPERATIVE SOCIETY LIMITED
- ORCOM AND ORCOM BUSSINESS SUPORT LIMITED
- PAYHIPPO LIMITED.
- EASYCHECK FINANCE INVESTMENT LIMITED
- QUARK FINANCIAL NIGERIA LIMITED
- EDMOND SOLUTIONS COMPANY LIMITED
- TED ROCKET LIMITED
- PENAID LIMITED
- ARVE LIMITED
- DOVER CREDIT LIMITED
- RAGEKAY GLOBAL INVESTMENT LIMITED
- MAYWOOD LENDING LIMITED
- LINKPARK TECHNOLOGY NIGERIA LIMITED
- MANGNET LENDING LIMITED
- RUBYSTAR GLOBAL LIMITED
- BESTFIN NIGERIA LIMITED
- FUBRI CENTURY COMPANY LIMITED
- BERLY SPRING GLOBAL LIMITED
- ROCK FINANCIALS LIMITED
- PHOENIX PAYMENT SOLUTION LIMITED
- VALUE DRIVER TECHNOLOGY SOLUTION LIMITED
- NEXTPAYDAY LIMITED
- BLACKCOPPER SERVICE LIMITED
- TRAFALGAR ASSOCIATE LIMITED
- WINDVILLE FINANCIAL NIGERIA LIMITED
- ORANGE LOAN & PURPLE CREDIT LIMITED
- CARBON MICROFINANCE BANK LIMITED
- NEO-LINK TECHNOLOGY COMPANY LIMITED
- FINNEW FINTECH LIMITED
- OTP INTERNET TECHNOLOGY LIMITED
- RED HARBOR FINTECH LIMITED
- PAYLATER HUB LIMITED
- SKITLOAN NIGERIA LIMITED
- RACEOVA NIG. LIMITED
- NEW CREDAGE NIGERIA LIMITED
- BETTERLENDING COMPANY LIMITED
- FAST-POINT INTERGRATED LIMITED
- APEX LENDING LIMITED
- PISKA TECH NIGERIA LIMITED
- PRINCEP CREDIT SYSTEM LIMITED
- OMALEND SERVICE LIMITED
- POCKFUL FINANCE LIMITED
- HIGHCREDIT NIGERIA LIMITED
- HOLLANDALE NIGERIA LIMITED
- PAY FINANCIAL TECHNOLOGY SERVICE LIMITED
- A1 CAPITAL SOLUTION LIMITED
- NEWEDGE FINANCE LIMITED
- PAPICHOU TECHNOLOGY LIMITED
- GOHARVEST INTERNATIONAL LIMITED
- MINO SPARKS LIMITED
- XGO FINANCE LIMITED
- PRIMERA MICROFINANCE BANK
- CREDIT TECH LENDING COMPANY
- PROSPERITY ARCHIPELAGO LIMITED
- FINESEST LIMITED
- SINGULARITY TECHNOLOGY NIGERIA LTD
- ECON MART FINTECH LIMITED
- PENNEE TECHNOLOGIES LIMITED
- OXYMON SOLUTION LIMITED
- LANTANA TECHNOLOGY LIMITED
- APPLINK CAPITAL NIGERIA LIMITED
- YEGON TECH LIMITED
- FEZOTECH NIGERIA LIMITED
- ERIC VSTA LIMITED
- MOBLASPAY COMPANY LIMITED
- PAYCREDIT LIMITED
- NIZ SERVICES LIMITED
- MINO SPARKS LIMITED
- FLO WOOD LENDING
- LIBERTY ASSURED LIMITED
- UNI TECHNOLOGY NIGERIA LTD
- TRADE LENDA COM LIMITED
- CREDITVILLE MICROFINANCE BANK LTD
- LETSHEGO MICROFINANCE BANK LTD
- KIOWOPE CAPITAL LIMITED
- VEENDHQ LIMITED
- UCPLUS ADVANCE LIMITED
- MAVEN FINANCE LIMITED
- AELLA FINANCIAL SOLUTIONS LIMITED
- FLUNA CAPITAL LIMITED
- NEWEDGE FINANCE LIMITED
- TA PRIME LIMITED
- REGXTA GLOBAL SERVICE LTD
- PROVEST LIMITED
- JM RUBINUS LIMITED
- CROSSROADS E-PAYMENT SYSTEMS LIMITED
- CONSYNERGY LIMITED
- FINTCRED INNOVATION LIMITED
- AFROSAY FINTECH LIMITED
- MIM FINANCE COMPANY
- GLOSH TECH LIMITED
- CLEMO FRESH CO. LTD
- PASSECO TECHNOLOGY NIG. LTD
- TRUST CEN LIMITED
- CORNERBLOCK SERVICES LIMITED
- ACETECH FINANCE LIMITED
- KIREDI ROCK COMPANY LTD
- FUNDSHOME LIMITED
- CREDITCLAN TECH LTD
- UGT TECHNOLOGIES LIMITED
Conditional Approval
- TRIPODBASE LIMITED
- OWOAFARA FINTECH SERVICE
- AJAX LENDING LIMITED
- THE PLATFORM DIGITAL NETWORK LIMITED
- ZIPPY CAPITAL LIMITED
- LENDING EDGE LIMITED
- LENDHA TECHNOLOGIES LIMITED
- DOJA LEMAIRE GLOBAL LIMITED
- PAYDAYHUB ONLINE NIGERIA LIMITED
- RETAIL BOOSTER LIMITED
- CITADELE CAPITALS LIMITED
- FEWCHORE FINANCE COMPANY LIMITED
- ONE PAYOUT LIMITED
- LIDYA GLOBAL LIMITED
- KWABA INTERNATIONAL LIMITED
- FINPADI TECHNOLOGIES LIMITED
- UMBA DIGITAL SOLUTIONS LIMITED
- FINTRADE SOLUTIONS LIMITED
- U TECHNOLOGY
- STELLAR FINANCE LIMITED
- DASH INNOVATIONS
- GRIT-TECH LIMITED
- CAELUM TECHNOLOGIES LIMITED
- U THINKING NIGERIA LIMITED
- EATON HILL INVESTMENT LIMITED
- CREDITPRO BUSINESS SUPPORT SERVICES LTD
- MUSKA TECH LIMITED
- HELPPO AFRICA LIMITED
- RENNERS INVESTMENT LIMITED
- PEBBLE FINANCIAL TECH. LIMITED
- KIAKIA BITS LIMITED
- WEALTHBRIDGE CAPITAL PARTNERS LIMITED
- TRIVISTA CAPITAL LIMITED
- ATIMI LENDING LTD
- ZUVY TECHNOLOGIES LIMITED
- ROCKSHIELD MICROFINANCE
- DOT MICROFINANCE BANK LIMITED
- ALLAWEE TECHNOLOGIES LIMITED
- LUCRED TECHNOLOGY LIMITED
- NOLT FINANCE LIMITED
- SOKO LENDING LIMITED
- CITYGATE GLOBAL INVESTMENT LIMITED
- OLIVERMEAD INVESTMENT LIMITED
- LIGHTING FINANCE TECHNOLOGY NIGERIA LIMITED
- MENO FINANCE LIMITED
- HOIL INVESTMENT LIMITED.
- RIVERBANK PARTNERS LIMITED
- PRIME AVIS INVESTMENT SERVICES LIMITED
- RIVERBRAND TECHNOLOGY LIMITED
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