FG shutdown online banking in Nigeria

The Federal Competition Consumer Protection Commission (FCCPC), in collaboration with the Independent Corrupt Practices and other Related Offences Commission (ICPC), National Information Technology Development Agency, and the Nigerian Police Force, raided some illegal financial institutions operating on Opebi Road, Ikeja, Lagos.

Speaking during the raid, the Chief Executive Officer, BABATUNDE IRUKERA, explained that customers had accused the financial institutions of violating their privacy in their debt recovery drive.

According to the Commission, the raid was in response to customers’ complaints of malpractices by the financial institutions, which includes GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, Easy Moni.