The Federal Competition and Consumer Protection Commission (FCCPC) has released a list of 173 companies approved to provide digital lending services in Nigeria.

In a statement released by FCCPC on its website on the 8th of April 2023, 129 companies were given full approval, while 49 were given conditional approval. The digital money lenders were given till March 27, 2023 to register with the commission.

The FCCPC is the regulatory authority responsible for, among other things, the administration and enforcement of the Federal Competition and Consumer Protection Act 2018 (the Act). It released a ‘Limited Interim Regulatory/ Registration Framework and Guidelines for Digital Lending 2022’ to regulate the digital lending space and make registration and approval a prerequisite for companies seeking to operate in the space.

The FCCPC has been on the warpath with unlicensed digital lenders since last year. In conjunction with the
Independent Corrupt Practices and Other Related Offences Commission (ICPC), the National Information Technology Development Agency(NITDA) and the Nigeria Police Force (NPF), the commission raided some digital lending firms allegedly violating consumer rights.

To curb the corrupt practices of these unlicensed digital lenders, it mandated all companies involved in the digital lending industry to register with it for approval.

With the conclusion of the registration, Google will also remove all unregistered loan apps in Nigeria from the Play Store.

Approved money lenders

Below is a list of the digital money lenders that have registered and secured approval from the FCCPC:

Full Approval

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 BUSSINESS SUPORT LIMITED
32. PAYHIPPO LIMITED.
33. EASYCHECK FINANCE INVESTMENT LIMITED
34. QUARK FINANCIAL NIGERIA LIMITED
35.  EDMOND SOLUTIONS COMPANY LIMITED
36. TED ROCKET LIMITED
37. PENAID LIMITED
38. ARVE LIMITED
39. DOVER CREDIT LIMITED
40.  RAGEKAY GLOBAL INVESTMENT LIMITED
41.  MAYWOOD LENDING LIMITED
42. LINKPARK TECHNOLOGY NIGERIA LIMITED
43.  MANGNET LENDING LIMITED
44. RUBYSTAR GLOBAL LIMITED
45. BESTFIN NIGERIA LIMITED
46. FUBRI CENTURY COMPANY LIMITED
47. BERLY SPRING GLOBAL LIMITED
48. ROCK FINANCIALS LIMITED
49. PHOENIX PAYMENT SOLUTION LIMITED
50. VALUE DRIVER TECHNOLOGY SOLUTION LIMITED
51. NEXTPAYDAY LIMITED
52. BLACKCOPPER SERVICE LIMITED
53. TRAFALGAR ASSOCIATE LIMITED
54. WINDVILLE FINANCIAL NIGERIA LIMITED
55. ORANGE LOAN & PURPLE CREDIT LIMITED
56. CARBON MICROFINANCE BANK LIMITED
57. NEO-LINK TECHNOLOGY COMPANY LIMITED
58. FINNEW FINTECH LIMITED
59. OTP INTERNET TECHNOLOGY LIMITED
60. RED HARBOR FINTECH LIMITED
61.  PAYLATER HUB LIMITED
62. SKITLOAN NIGERIA LIMITED
63. RACEOVA NIG. LIMITED
64. NEW CREDAGE NIGERIA LIMITED
65. BETTERLENDING COMPANY LIMITED
66. FAST-POINT INTERGRATED LIMITED
67. APEX LENDING LIMITED
68. PISKA TECH NIGERIA LIMITED
69. PRINCEP CREDIT SYSTEM LIMITED
70. OMALEND SERVICE LIMITED
71. POCKFUL FINANCE LIMITED
72. HIGHCREDIT NIGERIA LIMITED
73. HOLLANDALE NIGERIA LIMITED
74. PAY FINANCIAL TECHNOLOGY SERVICE LIMITED
75. A1 CAPITAL SOLUTION LIMITED
76. NEWEDGE FINANCE LIMITED
77. PAPICHOU TECHNOLOGY LIMITED
78. GOHARVEST INTERNATIONAL LIMITED
79. MINO SPARKS LIMITED
80. XGO FINANCE LIMITED
81. PRIMERA MICROFINANCE BANK
82. CREDIT TECH LENDING COMPANY
83. PROSPERITY ARCHIPELAGO LIMITED
84. FINESEST LIMITED
85. SINGULARITY TECHNOLOGY NIGERIA LTD
86. ECON MART FINTECH LIMITED
87. PENNEE TECHNOLOGIES LIMITED
88. OXYMON SOLUTION LIMITED
89. LANTANA TECHNOLOGY LIMITED
90. APPLINK CAPITAL NIGERIA LIMITED
91. YEGON TECH LIMITED
92. FEZOTECH NIGERIA LIMITED
93. ERIC VSTA LIMITED
94. MOBLASPAY COMPANY LIMITED
95. PAYCREDIT LIMITED
96. NIZ SERVICES LIMITED
97. MINO SPARKS LIMITED
98. FLO WOOD LENDING
99. LIBERTY ASSURED LIMITED
100. UNI TECHNOLOGY NIGERIA LTD
101. TRADE LENDA COM LIMITED
102. CREDITVILLE MICROFINANCE BANK LTD
103. LETSHEGO MICROFINANCE BANK LTD
104. KIOWOPE CAPITAL LIMITED
105. VEENDHQ LIMITED
106. UCPLUS ADVANCE LIMITED
107. MAVEN FINANCE LIMITED
108. AELLA FINANCIAL SOLUTIONS LIMITED
109. FLUNA CAPITAL LIMITED
110. NEWEDGE FINANCE LIMITED
111. TA PRIME LIMITED
112. REGXTA GLOBAL SERVICE LTD
113. PROVEST LIMITED
114. JM RUBINUS LIMITED
115. CROSSROADS E-PAYMENT SYSTEMS LIMITED
116. CONSYNERGY LIMITED
117. FINTCRED INNOVATION LIMITED
118. AFROSAY FINTECH LIMITED
119. MIM FINANCE COMPANY
120. GLOSH TECH LIMITED
121. CLEMO FRESH CO. LTD
122. PASSECO TECHNOLOGY NIG. LTD
123. TRUST CEN LIMITED
124. CORNERBLOCK SERVICES LIMITED
125. ACETECH FINANCE LIMITED
126. KIREDI ROCK COMPANY LTD
127. FUNDSHOME LIMITED
128. CREDITCLAN TECH LTD
129. UGT TECHNOLOGIES LIMITED

Conditional Approval

1. TRIPODBASE LIMITED 
2. OWOAFARA FINTECH SERVICE
3. AJAX LENDING LIMITED
4. THE PLATFORM DIGITAL NETWORK LIMITED
5. ZIPPY CAPITAL LIMITED
6. LENDING EDGE LIMITED
7. LENDHA TECHNOLOGIES LIMITED
8. DOJA LEMAIRE GLOBAL LIMITED
9. PAYDAYHUB ONLINE NIGERIA LIMITED
10. RETAIL BOOSTER LIMITED
11. CITADELE CAPITALS LIMITED
12. FEWCHORE FINANCE COMPANY LIMITED
13. ONE PAYOUT LIMITED
14. LIDYA GLOBAL LIMITED                    
15. KWABA INTERNATIONAL LIMITED
16. FINPADI TECHNOLOGIES LIMITED
17. UMBA DIGITAL SOLUTIONS LIMITED
18. FINTRADE SOLUTIONS LIMITED
19. U TECHNOLOGY
20. STELLAR FINANCE LIMITED
21. DASH INNOVATIONS
22. GRIT-TECH LIMITED
23. CAELUM TECHNOLOGIES LIMITED
24. U THINKING NIGERIA LIMITED
25. EATON HILL INVESTMENT LIMITED
26. CREDITPRO BUSINESS SUPPORT SERVICES LTD
27. MUSKA TECH LIMITED
28. HELPPO AFRICA LIMITED
29. RENNERS INVESTMENT LIMITED
30. PEBBLE FINANCIAL TECH. LIMITED
31. KIAKIA BITS LIMITED
32. WEALTHBRIDGE CAPITAL PARTNERS LIMITED
33. TRIVISTA CAPITAL LIMITED
34. ATIMI LENDING LTD
35. ZUVY TECHNOLOGIES LIMITED
36. ROCKSHIELD MICROFINANCE
37. DOT MICROFINANCE BANK LIMITED
38. ALLAWEE TECHNOLOGIES LIMITED
39. LUCRED TECHNOLOGY LIMITED
40. NOLT FINANCE LIMITED
41. SOKO LENDING LIMITED
42. CITYGATE GLOBAL INVESTMENT LIMITED
43. OLIVERMEAD INVESTMENT LIMITED
44. LIGHTING FINANCE TECHNOLOGY NIGERIA LIMITED
45. MENO FINANCE LIMITED
46. HOIL INVESTMENT LIMITED.
47. RIVERBANK PARTNERS LIMITED
48. PRIME AVIS INVESTMENT SERVICES LIMITED
49. RIVERBRAND TECHNOLOGY LIMITED

The post 178 loan app companies approved to provide digital lending services in Nigeria appeared first on Innovation Village | Technology, Product Reviews, Business.