Clampdown on loan sharks: FCCPC bursts money lenders syndicate


As part of efforts to sanitize the money lending industry, the Federal Competition and Consumer Protection Commission FCCPC, has conducted enforcement action against Soko lending limited.

According to the commission, the enforcement action was carried out after intelligence gathering and surveillance on the money lending company.

Speaking to journalists at the end of the exercise, the Executive Vice Chairman of the FCCPC, Babatunde Irukera explained that the action against Soko lending limited will serve as a deterrent to other lending companies who have refused to get necessary authorization.

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