News

Commission Probes 400 Cases Of Privacy Breach In Online Loan Apps

Published

2 years ago

March 28, 2024

Editor

The Nigeria Data Protection Commission has said it is investigating over 400 cases of privacy breaches involving online loan apps.

Cases of data privacy breaches have become prevalent in recent times due to the proliferation of digital lending platforms.

The commission made this known in its 2023 Annual Report made available to The PUNCH on Thursday.

It noted that its ongoing investigations have revealed that “loan apps are overly intrusive.”

NDPC is also seeking a ban or restriction on mobile numbers found to have been used by lenders to breach the privacy of their customers.

“They generally violate the principles of Data Protection and Privacy because they have access to contacts, pictures, messages, etc. of data subjects,” the commission stated.

This indicated that despite an April 2023 policy introduced by Google banning loan apps from accessing photos and contacts of users, the practice has continued.

Acknowledging that privacy breaches by loan apps are a systemic problem, the commission said it is also adopting a systemic solution by working with other regulators and third-party platforms being used by the lenders.

A user of a loan app, Haruna Michael, who spoke to The PUNCH on Thursday, said that one of the digital lenders used his photos and tagged him as a fleeing criminal because he defaulted in paying the loan he received within the stipulated time.

He said his contacts were reached and he was reported as a fraudster.

“Over 400 cases of privacy breaches involving shadowy loan sharks are being addressed at the systemic level.

“The commission has now drafted the Nigeria Data Protection Act-General Application and Implementation Directive which addresses the abetment of data breaches, the need for data ethics and privacy by design and by default among others.

“Under abetment, the third-party platforms through which data privacy breaches take place will now be required to deny access to those who use their platforms for privacy breaches.

“Organisations, particularly communication networks should be willing to restrict or ban telephone lines that are implicated in privacy violations,” the commission said.

The NDPC added that it is also collaborating with regulators under the Joint Enforcement and Regulatory Taskforce to sanitise the digital lending space.

It noted that the Federal Competition and Consumer Protection Commission now requires lending companies to obtain data protection clearance from NDPC before operation.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

6 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

8 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.