FCCPC Approves 94 Online Lenders – Full List

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CEM REPORT, FINANCE | The Federal Competition and Consumer Protection Commission (FCCPC) have recently approved the operations of 94 companies within the digital money lenders ecosystem in Nigeria.

The Commission disclosed this in an update on its ongoing registration of digital money lenders in the country.

FCCPC in its disclosure revealed that 49 of the digital lenders were given full approval, while the remaining 45 got conditional approval.

The commission has been tackling the menace of unlicensed loan apps, otherwise known as loan sharks.

The commission said the companies were approved in accordance with the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending which was formulated in collaboration with the Joint Task Force (JTF) to promote fair, transparent, and beneficial alternative lending opportunities for Nigerians.

The guidelines require digital lenders to register with the FCCPC and complete two forms (Form DLG 001 and Form DLG 002).

Form DLG OO1 is the registration form that requires the applicant company to provide identification and operational information to the FCCPC, while Form DLG 002 contains declarations relating to Legitimacy; Compliance with applicable regulatory requirements; Lawful source of funds and conformity with anti-money laundering; and Data protection laws.

While the Commission had last year given all the digital money lenders 90 days to comply with these guidelines, it later extended the deadline which expired on November 14, 2022, to January 31, 2023.

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Below is a list of the 49 digital money lenders that have secured full approval from the FCCPC-

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
FAIR MONEY MICRO FINANCE BANK
ALTRACRED FINANCE INVESTMENT 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 LIMITED
YES CREDIT COMPANY LIMITED
FUBRIL CENTURY LIMITED
IRORUN TECHNOLOGIES LIMITED
CSENSE LIMITED
SUPREME HELP COOPERATIVE SOCIETY LIMITED
ORCOM AND ORCOM BUSSINESS SUPPORT 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
LINK PARK TECHNOLOGY NIGERIA LIMITED
MANGNET LENDING LIMITED
RUBYSTAR GLOBAL LIMITED
BESTFIN NIGERIA LIMITED
FUBRI CENTURY COMPANY LIMITED
BERLY SPRING GLOBAL LIMITED

The following companies have secured conditional approvals from the Commission, meaning that they still have some requirements to meet before they can get the full approval;

TRIPPDBASE LIMITED
BLACK COPPER SERVICE
OWOAFAR FINTECH SERVICE
PAY LATER HUB
WINDVILLE FINANCIAL NIGERIA LIMITED
AFROFIRST MOBILE AND TECHNOLOGY COMPANY LIMITED
ORCOM AND ORCOM BUSINESS SUPPORT LIMITED
OTP INTERNET TECHNOLOGY LTD
RED HARBOR FINTECH LIMITED
BERYL SPRING GLOBAL LIMITED
HOMETOWN FINTECH LIMITED
AJAX LENDING LIMITED
RACEOVA NIG. LIMITED
LANTANA TECHNOLOGY LIMITED
THE PLATFORM DIGITAL NETWORK LIMITED
ZIPPY CAPITAL LIMITED
NEO-LINK TECHNOLOGY LIMITED
TRIPOBASE LIMITED
BESTFIN NIGERIA LIMITED
POCKETFUEL FINANCE LIMITED
LENDING EDGE LIMITED
TED ROCKET LIMITED
PENAID LIMITED
ALTARA CREDIT LIMITED
NEW CREDAGE NIGERIA LIMITED
LENDHA TECHNOLOGIES LIMITED
DOJA LEMAIRE GLOBAL LIMITED
PAYDAYHUB ONLINE NIGERIA LIMITED
RETAIL BOOSTER LIMITED
FINNEW FINTECH LIMITED
FEZOTECH NIGERIA LIMITED
ORANGE LOAN & PURPLE CREDIT LIMITED
CITADELE CAPITALS LIMITED
FEWCHORE FINANCE COMPANY LIMITED
A1 CAPITAL SOLUTION LIMITED
ONE PAYOUT LIMITED
LINK PARK TECHNOLOGY NIGERIA LIMITED
LIDYA GLOBAL LIMITED
PHOENIX PAYMENT SOLUTIONS LIMITED
RED PLANET NIGERIA LIMITED
KWABA INTERNATIONAL LIMITED.
MAYWOOD LENDING LIMITED.
PRINCEPS CREDIT SYSTEM LIMITED
FINPADI TECHNOLOGIES LIMITED

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