On Friday, the Federal Competition Consumer Protection Commission (FCCPC), in collaboration with the Independent Corrupt Practices and other Related Offences Commission (ICPC), the National Information Technology Development Agency (NITDA), and the Nigerian Police Force, raided some illegal financial institutions operating on Opebi Road, Ikeja, Lagos. The Punch reported that among the financial institutions impacted by the raid were GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, and Easy Moni. During the search, Babatunde Irukera, the FCCPC’s Chief Executive Officer, said the raid was in reaction to consumers’ complaints about the financial firms’ malpractices. He said that consumers had accused banking institutions of abusing their privacy during their debt collection efforts, and that the agency began investigating the accusations in 2020. This information started quite a whi...
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