On May 31, 2023, loan apps on the Play Store won’t be able to access the contacts or photographs of its users. The Federal Government announced that it will enforce Google’s most recent policy at the same time as Nigerian authorities were attempting to stop lending app companies from violating their users’ privacy.
Importantly, out of the 200 lending applications currently active in the nation, the Federal Competition and Consumer Protection Commission recently registered 170 of them. According to recent statements made by the FCCPC, 173 applications for digital lending to operate throughout the nation have been granted. This action was required after loan apps began tormenting Nigerians by sending slanderous messages to their connections and other forms of harassment.
Google’s policy, however, specifies that it does not “Allow promotional apps, personal loans that require repayment in full in 60 days or less from the date the loan is issued,” many loan apps in the country do not adhere to it, exposing many Nigerians to confidential data leak.