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“NDPC insists on full compliance with the Nigeria Data Protection Act (NDPA) in this regard as each online lending company must carry out a comprehensive Data Privacy Impact Assessment.” The report revealed that“over 400 cases of privacy breaches involving shadowyloansharks are being addressed at the systemic level.” Naija Newsunderstands that 203 loan applications were approved under the JERTF in the fourth quarter of 2023.
It is worth mentioning that in March 2022, the FCCPC, in collaboration with enforcement agencies, raided the offices of “illegal” digital loan companies operating in Ikeja, Lagos.
“For instance, the Federal Competition and Consumer Protection Commission (FCCPC) requires lending companies to obtain data protection clearance from NDPC before operation..
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