94 companies are authorized by the FG to lend digital currency in Nigeria
94 businesses have received approval from the Federal Competition and Consumer Protection Commission (FCCPC) to operate as digital money lenders in Nigeria.
49 of the 94 money lenders who were approved gained full approval, while 45 only received provisional approval.
In a report on its ongoing registration of online money lenders in Nigeria, the FCCPC indicated that it was primarily focusing on unregistered lending apps and unlicensed money lenders.
The Commission claims that in collaboration with the Joint Task Force, it developed the interim Regulatory/Registration Framework and Guidelines for Digital Lending to improve the fair, transparent, and healthy alternative lending choices for Nigerians.
According to the rules, lending apps or digital money lenders must register with the FCCPC and submit two application forms.
According to reports, companies are required to submit identification and operational information to the Commission on one of the application forms, and information about their legitimacy, compliance with relevant regulatory requirements, legal source of funds, and compliance with data protection and anti-money laundering laws on the other.
The FCCPC gave digital money lenders 90 days deadline which was extended to January January 31, 2023.
Below are the approved money lenders in Nigeria.
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 INVESTIMENT LIMITED CREVANCE CREDIT LIMITED MENACRED COMPANY LIMITED AFROWIDE DEVELOPMENT LTD RED PLANET NIGERIA LIMITED AFROFIRST MOBILE AND TECHNOLOGY COMPANY LIMITED RANKCAPITALS LIMITED IBS GOLDEN INVESTMENT COMPANY LIMITED LENDVISERY SERVICES LIMITED CREDITWAVE FINANCE 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 FUBRIL CENTURY 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
