The Federal Competition and Consumer Protection Commission (FCCPC), in furtherance of the collaboration of the Inter-Agency Joint Task Force, has extended the deadline for the registration of Digital Money Lenders (DMLs) to January 31st (tomorrow).
The Executive Vice Chairman/Chief Executive Officer, FCCPC, Babatunde Irukera, in a signed statement on Friday, said the extension is to ensure the registration of DMLs whose registration was still in process, and to prevent significant market disruptions.
The Commission noted, however, that several DMLs, popularly called “loan sharks”, have not yet provided all relevant documentation to complete their registration process. To this end, the Commission is further extending the registration deadline to Monday, March 27th.
…the extension is to ensure the registration of DMLs whose registration was still in process, and to prevent significant market disruptions.
