• Home
  • About Us
  • Contact Us
Saturday, March 25, 2023
Star Lite News
  • Home
  • News
    • All
    • Business
    NLC

    Naira Scarcity: NLC Declares Nationwide Strike, Protests At CBN

    United Kingdom

    Elections: UK To Close Lagos Visa Application Centres Monday Over Safety Concern

    Buhari

    Buhari Signs Amended Constitution To Allow States Generate, Transmit Electricity

    53-year-old woman who was allegedly found with laminated electoral materials

    Lagos Police Arrest Woman With Laminated INEC Materials

    Inspector-General of Police

    Guber Election: IGP Orders Restriction Of Movement On Election Day

    House of Representatives

    Reps Extend Resumption By One Week

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    GTCO Food & Drink Festival

    GTCO Food & Drink Festival 2023… A Celebration Of Food!

    Adeniyi Johnson and Seyi Edun

    Actor Adeniyi And Wife Finally Become Parents As They Welcome Twins

    Nollywood Veterans Visits Agbaminoja

    Agbaminoja Plays Host To Nollywood Veterans

    Nancy Isime

    Filming with legends will forever put a big smile on my face – Nancy Isime

    Coolio

    American Rapper, Coolio, Dies Suddenly In Friend’s House

    Ned/Laila

    ‘I listened too much to outsiders’ – Ned Nwoko’s 5th wife Laila apologises to him

  • Lifestyle

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    NLC

    Naira Scarcity: NLC Declares Nationwide Strike, Protests At CBN

    United Kingdom

    Elections: UK To Close Lagos Visa Application Centres Monday Over Safety Concern

    Buhari

    Buhari Signs Amended Constitution To Allow States Generate, Transmit Electricity

    53-year-old woman who was allegedly found with laminated electoral materials

    Lagos Police Arrest Woman With Laminated INEC Materials

    Inspector-General of Police

    Guber Election: IGP Orders Restriction Of Movement On Election Day

    House of Representatives

    Reps Extend Resumption By One Week

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    GTCO Food & Drink Festival

    GTCO Food & Drink Festival 2023… A Celebration Of Food!

    Adeniyi Johnson and Seyi Edun

    Actor Adeniyi And Wife Finally Become Parents As They Welcome Twins

    Nollywood Veterans Visits Agbaminoja

    Agbaminoja Plays Host To Nollywood Veterans

    Nancy Isime

    Filming with legends will forever put a big smile on my face – Nancy Isime

    Coolio

    American Rapper, Coolio, Dies Suddenly In Friend’s House

    Ned/Laila

    ‘I listened too much to outsiders’ – Ned Nwoko’s 5th wife Laila apologises to him

  • Lifestyle

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Crime

Buhari Shuts Down Okash, Kashkash, EaseMoni, Others Over Sharp Practices

starliteadmin by starliteadmin
March 13, 2022
in Crime
0
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

The Federal Competition Consumer Protection Commission, in collaboration with the Independent Corrupt Practices and other Related Offences Commission, National Information Technology Development Agency, and the Nigerian Police Force, on Friday, raided some illegal financial institutions operating on Opebi Road, Ikeja, Lagos.
Among the financial institutions affected were GoCash, Okash, EasyCredit, Kashkash, Speedy Choice and Easy Moni.

The Federal Competition Consumer Protection Commission, in a joint operation with the Independent Corrupt Practices and other Related Offences Commission, National Information Technology Development Agency, and the Nigerian Police Force, raided these institutions.

According to the FCCPC, the raid was in response to customers’ complaints of malpractices by the financial institutions.

The Chief Executive Officer, FCCPC, Babatunde Irukera, explained that customers had accused the financial institutions of violating their privacy in their debt recovery drive.

Irukera said the agency had begun investigations into the allegations since 2020.

He said, “This information started quite a while ago. Some time ago, when the country was on lockdown in 2020 due to the pandemic, we started seeing the rise in money lenders”
“Because there was lockdown due to the pandemic, people needed small easy loan which is understandable. But over a period of time, people started complaining about the malpractices of the lenders, so we started tracking it.”

According to Irukera, the interest rate charged by online financial institutions appear to violate the ethics of how lending is done.

He explained: “The key two things that were subject of concern were what seems to be the naming and shaming violation of people’s privacy with respect to how these lenders recover their loans.”

“Secondly, the interest rate seems to be a violation of the ethics on how lending is done. So, those were the two things that we set out to look for.”

The FCCPC boss said investigations had revealed that the loan firms were neither Nigerian companies nor registered in the country.
“We found out that most of these companies operate from the same place. We also found out that many of them are actually operated by the same person.

“They are not Nigerian companies, they don’t have an address in Nigeria and they are not registered in Nigeria with the Corporate Affairs Commission and they do not have any licence to do their business,” he stated.

Tags: Babatunde IrukeraBlue RidgeEaseMoniEasyCreditFCCPCFederal GovernmentGoCashIndependent Corrupt Practices and other Related Offences CommissionKashkashNational Information Technology Development AgencyOkashSpeedy ChoiceStarlitenewsThe Chief Executive OfficerThe Federal Competition Consumer Protection CommissionThe Nigerian Police Force
Previous Post

Air Peace, Azman, Arik, Three Others Form Alliance

Next Post

National Centre for Women Development Repaints a Transformer ‘for ₦50m’ in Ogun

starliteadmin

starliteadmin

Related Posts

NDLEA/Pastor

NDLEA Bursts Daddy G.O and Gangs Attempt to Smuggle Drugs Abroad in Palm Oil Kegs

by starliteadmin
February 12, 2023
0

Operatives of the National Drug Law Enforcement Agency NDLEA have arrested the founder and General Overseer of Seraphic & Sabbath Assembly, Lagos, High...

Prof Zainab Duke Abiola

Abiola’s Wife, Others To Face Prosecution For Assault On Policewoman

by starliteadmin
September 22, 2022
0

The Inspector-General of Police, Usman Alkali Baba, has ordered the express prosecution of wife of late business mogul MKO Abiola,...

Baptist Day School

Robbers Invade School, Cart Away Chairs, Tables, Books

by starliteadmin
September 22, 2022
0

Suspected armed robbers broke into the Baptist Day School at Alaaguntan area of Ewekoro Local Government, Ogun State, on Monday...

NDLEA

Nigeria Seizes $278 Million of Cocaine in Country’s Biggest Drug Bust

by starliteadmin
September 20, 2022
0

Nigeria’s anti-narcotics agency, National Drug Law Enforcement Agency (NDLEA) seized cocaine worth $278 million on Monday, the biggest single drug...

Soludo Suspends LG Chairman Over Wife’s Death

by starliteadmin
August 12, 2022
0

Governor Charles Soludo of Anambra has suspended Mbazulike Iloka, the transition chairman of Nnewi North local government area, over the...

Two Fraudsters on FBI Wanted List Sentenced in Enugu

by starliteadmin
June 24, 2022
0

Ibrahim Buba, a Federal High Court judge in Enugu, Abi State, has sentenced Uchechukwu Solomon Ezirim and Dike George Chimezie...

Next Post

National Centre for Women Development Repaints a Transformer ‘for ₦50m’ in Ogun

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • A Day With Legends of Nollywood

    Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0
  • Akmodel First Physical Allocation At Akmar Flourish Gardens Epe (Photos)

    0 shares
    Share 0 Tweet 0
  • Agbaminoja, CSP Oriyomi, Dr. Kenny Muibi, Others Storm AKMODEL GROUPS 2nd Anniversary (Photos)

    0 shares
    Share 0 Tweet 0
  • Unity Bank, Lagos Food Bank Partner To Donate Food Items To Lagos Community

    0 shares
    Share 0 Tweet 0
  • AKMODEL Groups C.E.O, Bldr. Odegade Clocks A New Age

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Naira Scarcity: NLC Declares Nationwide Strike, Protests At CBN
  • GTCO Food & Drink Festival 2023… A Celebration Of Food!
  • Dangote Cement To Pay About N340billion Dividend On Friday, April 14th
  • Breaking: LP Wins First Gov Election As INEC Declares Otti Abia Gov-Elect
  • ELECTIONS: Archbishop Martins Condemns Ethnic Profiling, Calls for Peace, Tolerance
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.