You can report loan apps in Nigeria in two ways. First, you can report loan apps to the Central Bank of Nigeria. Then, you can also complain about loan apps to the Federal Competition and Consumer Protection Commission (FCCPC).
These two platforms would ensure proper action is taken against loan apps that display inappropriate behaviors to their customers. In this post, you will be reading a thorough guide on how to report loan apps in Nigeria using these two platforms. You would not like to miss reading this!
How To Report Loan Apps In Nigeria To The CBN
The Central Bank of Nigeria (CBN) monitors the affairs of financial institutions in Nigeria. When complaints about financial institutions are filed to the CBN, appropriate actions are taken as soon as possible. Here are steps to take to report illegal loan apps in Nigeria to the CBN:
Step 1. Get Proof
The first step to report loan apps in Nigeria is to get proof of fraud. You don’t want to make a complaint without substantial evidence backing your claim. So, before lodging an official complaint to the Central Bank of Nigeria, gather evidence. Here are the evidence you should have handy:
• Screenshots of the repayment plan, interest rate of the loan app, or any chat with the loan application.
• Evidence of loan repayment, and bank debit statements.
• Call recording of harassment and screenshots of text messages suggesting harassment or other forms of illegalities.
Once you have this evidence handy, you’ve completed the first step, then proceed to the next step.
Step 2. Reach Out To The Loan App
Get the contact details of the customer care support of the loan app. Convey to them your distaste for their actions. If proof of inappropriate behavior is requested, send the evidence you’ve gathered to them. If the same action continues after two weeks, as stated by the Central Bank of Nigeria, then that would be the time to contact the Central Bank Of Nigeria on the issue.
Step 3. Contact The Central Bank Of Nigeria
If after waiting for two weeks nothing has been done to stop the harassment, then contact the Central Bank Of Nigeria Consumer Protection Department. To reach out to the CBN Consumer Protection Department, here’s the email:
Email: [email protected]
Here’s what your email to the CBN’s Consumer Protection Department should look like:
Director, Consumer Protection Department
Central Bank of Nigeria
Central Business District, Abuja
Note that:
• Your email should be addressed only to the Director, Consumer Protection Department. Failure to address the letter this way may cause your complaint to be swept under the rug.
• Your email should be specific. Be straightforward on your complaint. If possible, write down about your effort to reach out to the loan app and the result.
• Attach the proof of fraud you’ve obtained. All screenshots call recordings, and images should be clear and available for proper action to be taken.
• Do not include your password, PIN, or any other verification codes in the proof that you would send to CBN. It is strongly advised that you do not send these along.
If you’ve sent the email to the CBN’s Consumer Protection Department, rest assured that appropriate measures will be taken to ensure inappropriate behaviors from that loan app will not occur again.
However, if after complaining to the CBN, you still want to go a step further, you can send a complaint about the loan app to the Federal Competition and Consumer Protection Commission (FCCPC). The next subheading explains that.
How To Report Loan Apps In Nigeria To The FCCPC
To report inappropriate behavior of a loan app to the Federal Competition and Consumer Protection Commission (FCCPC), follow these steps:
Step 1. Get Proof
Just as mentioned in the case of lodging complaints to the CBN, you would need to gather evidence to support your claim. This evidence can be in the form of screenshots, call recordings, chats, etc.
Step 2. Contact The Loan App
After gathering substantial proof, the next step would be to contact the loan app. Using the customer support channels, reach out to the loan app. Inform them of the inappropriate behaviors notice them and wait for feedback. In your complaint to the loan app, you may include the evidence that you’ve gathered if requested. If after two weeks the matter has not yet been resolved, then it’s time to contact the FCCPC.
Step 3. Contact The FCCPC
The FCCPC is a commission that does not joke with the consumer’s rights. So, right away when you notice illegalities in a loan app or any financial institution, contact the FCCPC for appropriate action to be taken. To contact the FCCPC, send an email to the FCCPC email address. Here’s the email address:
Email: [email protected]
Do well to address the letter to The Director General Consumer Protection Council (CPC).
Note:
• Ensure you add screenshots, receipts, call recordings, or any substantial proof to support your claim.
• Include your name and the name of the loan app.
• A redress to complaints is done between 1 – 45 days after the complaint has been made. It may take longer depending on the nature of the complaint.
FAQ
How do I report an illegal loan app in Nigeria?
To report an illegal loan app in Nigeria, contact the CBN Consumer Protection Department. The email to contact the CBN Consumer Protection Department is [email protected]. In your email, include all screenshots, receipts, and call recordings that support your claim. As soon as possible, action will be taken against the illegal loan app.
How do I stop loan app harassment?
To stop loan app harassment, contact the loan app to inform them of the harassment that you have been receiving. If after two weeks no action has been taken by the loan app to stop it, contact the FCCPC or CBN Consumer Protection Department. The emails to these platforms are [email protected] or [email protected].
Can the loan app access my contacts if uninstalled?
If uninstalled, the loan app may not be able to access your contacts. However, before uninstalling the app, you can scroll the the App Notification settings and deny the loan app access to your contact list. This would prevent the loan app from sending messages or calls to your contacts.
Rounding Up
Almost daily, more loan apps are coming up. Some of these loan apps are not properly run and as such, cases of illegalities or harassment occur when customers use these loan apps. When you notice this, right away, report these loan apps to the appropriate bodies. Thanks to this article, you’ve seen two ways how to report loan apps in Nigeria.
If you have questions or want to share your thoughts on this topic, feel free to comment below.
