Google Bans Access on Contacts, Photos for Nigerian Digital Loan Apps


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Google Sets Stringent New Regulations for Digital Loan Applications in Nigeria, Blocking Access to Contact Info, Photos, and More. To prevent predatory lending, Google has implemented additional limits for digital loan applications on the Play Store platform.

From May 31st, the new regulation will not allow loan apps to access private information. Once the Federal Government legalised Fairmoney, Payday, and 117 other digital loan applications three days ago, Google issued its instructions.

Google has instituted additional limitations on the Play Store for digital loan applications in an effort to shield its consumers from fraudulent lending.

This comes after the Nigerian government only a few days ago authorised 117 mobile lending applications for use in the country.

When Google's new policy goes into effect on May 31, applications will no longer be able to access private information like a user's photographs, videos, contacts, or location.

A Note from Google to Developers of Loan Apps

Google posted a statement explaining that the new policy was created in response to concerns over the way some lending applications were handling users' personal information.

In part, it says

"Apps whose major goal is to generate leads for or facilitate the acquisition of personal loans (i.e., lead generators or facilitators) are not permitted access to private information such as a user's photographs or contact information.

Apps that generate loan leads or link borrowers with third-party lenders fall under the scope of this regulation.

Detailed Google guidance for Nigeria's mobile loan apps
In addition, Google provided Nigerian loan applications with a list of standards they must complete before being included in the Play Store.

In the message, it says:

For Personal Loan Apps to legally function in Nigeria, Digital Money Lenders (DMLs) must adhere to the FCCPC's Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (as may be revised from time to time).

"DMLs are also required to provide FCCPC permission letters that may be independently verified. Nonetheless, loan aggregators must disclose the identities of all DMLs with which they work and give proof of accreditation for their digital lending services.

To further show your compliance with the regulatory and licencing requirements that are applicable to your business, you must supply any additional information or documentation as requested by Google Play.

A total of 117 online loan applications have been given the go-light by the federal government.
According to the Federal Competition and Consumer Protection Commission, just 119 of 173 loan applications have been fully approved, while 54 have provisional approvals at this time, prompting Google's request.

The commission has also banned unregulated financial institutions operating online.

This is an exhaustive compilation of authorised digital lending apps.

1. Sycamore Integrated Solutions Limited 2. Trade Depot
3. Tajow Investment
4. Blue Ridge Microfinance Bank Limited
5. Grolatech Credit Limited
6. Branch International Financial Services Limited
7. P2vest Technology Limited
8. Creditwave Finance Limited
9. Keenest Tech Service Limited
10. Fairmoney Micro Finance Bank
11. Altracred Finance Investment Limited
12. Crevance Credit Limited
13. Menacred Company Limited
14. Afrowide Development Ltd
15.Red Planet Nigeria Limited
16. Afrofirst Mobile and Technology Company Limited
17. Rankcapital Limited
18. IBS Golden Investment Company Limited
19. Lendvisery Services Limited
20. Renmoney Microfinance Bank Limited
21. Swipebill Technologies Nigeria Limited
22. Hometown Fintech Limited
23. Giasun Technology Nigeria Limited
24. Be Resources Limited
25. Rockit Lenders Nigeria Limited
26. Pivo Technology Limied
27. Yes Credit Company Limited
28. Irorun Technologies Limited
29. Csense Limited
30. Supreme Help Cooperative Society Limited
31. Orcom and Orcom Business Support Limited
32. Payhippo Limited
33. Easycheck Finance Investment Limited
34. Quark Financial Nigeria Limited
35. Edmond Solutions Company Limited
36. Ted Rocket Limited Penaid Limited
37. Arve Limited Dover Credit Limited
38. Ragekay Global Investment Limited
39. Maywood Lending Limited
40. Linkpark Technology Nigeria Limited
41. Mangnet Lending Limited
42. Rubystar Global Limited
43. Bestfin Nigeria Limited
44. Fubri Century Company Limited
45. Berly Spring Global Limited
46. Rock Financials Limited
47. Phoenix Payment Solution Limited
48. Value Driver Technology Solution Limited
49. Nextpayday Limited
50. Blackcopper Service Limited
51. Trafalgar Associate Limited
52. Windville Financial Nigeria Limited
53. Orange Loan & Purple Credit Limited
54. Carbon Microfinance Bank Limited
55. Neo-Link Technology Company Limited
56. Finnew Fintech Limited
57. OTP Internet Technology Limited
58. Red Harbor Fintech Limited
59. Paylater Hub Limited
60. Skitloan Nigeria Limited
61. Raceova Nig. Limited
62. New Credage Nigeria Limited
63. Betterlending Company Limited
64. Fast-Point Intergrated Limited
65. Apex Lending Limited
66. Piska Tech Nigeria Limited
67. Princep Credit System Limited
68. Omalend Service Limited
69. Pockful Finance Limited
70. Highcredit Nigeria Limited
71. Hollandale Nigeria Limited
72. Pay Financial Technology Service Limited
73. A1 Capital Solution Limited
74. Newedge Finance Limited
75. Papichou Technology Limited
76. Goharvest International Limited
77. Mino Sparks Limited
78. Xgo Finance Limited
79. Primera Microfinance Bank
80. Credit Tech Lending Company
81. Prosperity Archipelago Limited
82. Finesest Limited
83. Singularity Technology Nigeria Ltd
84. Econ Mart Fintech Limited
85. Pennee Technologies Limited
86. Oxymon Solution Limited
87. Lantana Technology Limited
88. Applink Capital Nigeria Limited
89. Yegon Tech Limited
90. Fezotech Nigeria Limited
91. Eric Vsta Limited
92. Moblaspay Company Limited
93. Paycredit Limited
94. Niz Services Limited
95. Mino Sparks Limited
96. Flo Wood Lending
97. Liberty Assured Limited
98. Uni Technology Nigeria Ltd
99. Trade Lenda Com Limited
100. Creditville Microfinance Bank Ltd
101. Letshego Microfinance Bank Ltd
102. Kiowope Capital Limited
103. Veendhq Limited
104. Ucplus Advance Limited
105. Maven Finance Limited
106. Aella Financial Solutions Limited
107. Fluna Capital Limited
108. Newedge Finance Limited
109. Ta Prime Limited
110. Regxta Global Service Ltd
111. Provest Limited
112. Jm Rubinus Limited
113. Crossroads E-Payment Systems Limited
114. Consynergy Limited
115. Fintcred Innovation Limited
116. Afrosay Fintech Limited
117. Mim Finance Company

Alvina Miller

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I intend to contribute a guest post to your website that will help you get good traffic as well as interest your readers.

Shall I send you the topics then?

Alvina Miller


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I intend to contribute a guest post to your website that will help you get good traffic as well as interest your readers.

Shall I send you the topics then?

Alvina Miller
use the email address in the contact us page below this page

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