List of 94 Digital Money Lending Companies in Nigeria Approved by FCCPC

 


The Federal Competition and Consumer Protection Commission (FCCPC) has approved the operations of 94 companies as digital money lenders in Nigeria.

However, only 49 of the digital lenders were given full approval, while the remaining 45 were given conditional approval.

This was contained in an update by the Commission on its ongoing registration of digital money lenders in the country, which is targeted at curbing activities of unlicensed loan apps, otherwise known as loan sharks.  

The FCCPC announced that its Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending in collaboration with the Joint Task Force (JTF) was to promote fair, transparent, and beneficial alternative lending opportunities for Nigerians. 

FCCPC Guidelines for Digital Lending

 The guidelines states that digital lenders must register with the FCCPC and complete two forms (Form DLG 001 and Form DLG 002). 

Form DLG OO1 is the registration form that requires the intending digital lending company to provide identification and operational information to the FCCPC, while Form DLG 002 contains declarations relating to: 

Legitimacy; 

Compliance with applicable regulatory requirements; 

Lawful source of funds and conformity with anti-money laundering; and 

Data protection laws. 

The Commission had last year given all the digital money lenders 90 days to comply with these guidelines, but later extended the deadline which expired on November 14, 2022, to January 31, 2023.  

Fully Approved Mobile Money Lenders in Nigeria

Below is a list of the 49 digital money lenders that have secured full approval from the FCCPC-

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 INVESTIMENT 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 RANKCAPITALS LIMITED 

18 IBS GOLDEN INVESTMENT COMPANY LIMITED 

19 LENDVISERY SERVICES LIMITED 

20 CREDITWAVE FINANCE LIMITED 

21 RENMONEY MICROFINANCE BANK LIMITED 

22 SWIPEBILL TECHNOLOGIES NIGERIA LIMITED

23 HOMETOWN FINTECH LIMITED 

24 GIASUN TECHNOLOGY NIGERIA LIMITED 

25 BE RESOURCES LIMITED 

26 ROCKIT LENDERS NIGERIA LIMITED 

27 PIVO TECHNOLOGY LIMIED 

28 YES CREDIT COMPANY LIMITED 

29 FUBRIL CENTURY LIMITED 

30 IRORUN TECHNOLOGIES LIMITED 

31 CSENSE LIMITED 

32 SUPREME HELP COOPERATIVE SOCIETY LIMITED 

33 ORCOM AND ORCOM BUSSINESS SUPORT LIMITED 

34 PAYHIPPO LIMITED. 

35 EASYCHECK FINANCE INVESTMENT LIMITED 

36 QUARK FINANCIAL NIGERIA LIMITED 

37 EDMOND SOLUTIONS COMPANY LIMITED 

38 TED ROCKET LIMITED 

39 PENAID LIMITED 

40 ARVE LIMITED 

41 DOVER CREDIT LIMITED 

42 RAGEKAY GLOBAL INVESTMENT LIMITED 

43 MAYWOOD LENDING LIMITED 

44 LINKPARK TECHNOLOGY NIGERIA LIMITED 

45 MANGNET LENDING LIMITED 

46 RUBYSTAR GLOBAL LIMITED

47 BESTFIN NIGERIA LIMITED 

48 FUBRI CENTURY COMPANY LIMITED 

49 BERLY SPRING GLOBAL LIMITED 

 Conditional approvals: The following companies have secured conditional approvals from the Commission, meaning that they still have some requirements to meet before they can get the full approval-

1 TRIPPDBASE LIMITED 

2 BLACKCOPPER SERVICE  

3 OWOAFAR FINTECH SERVICE 

4 PAYLATER HUB 

5 WINDVILLE FINANCIAL NIGERIA LIMITED 

6 AFROFIRST MOBILE AND TECHNOLOGY COMPANY LIMITED 

7 ORCOM AND ORCOM BUSINESS SUPPORT LIMITED 

8 OTP INTERNET TECHNOLOGY LTD 

9 RED HARBOR FINTECH LIMITED 

10 BERYL SPRING GLOBAL LIMITED 

11 HOMETOWN FINTECH LIMITED 

12 AJAX LENDING LIMITED 

13 RACEOVA NIG. LIMITED 

14 LANTANA TECHNOLOGY LIMITED 

15 THE PLATFORM DIGITAL NETWORK LIMITED 

16 ZIPPY CAPITAL LIMITED 

17 NEO-LINK TECHNOLOGY LIMITED 

18 TRIPOBASE LIMITED 

19 BESTFIN NIGERIA LIMITED 

20 POCKETFUEL FINANCE LIMITED 

21 LENDING EDGE LIMITED 

22 TED ROCKET LIMITED 

23 PENAID LIMITED 

24 ALTARA CREDIT LIMITED 

25 NEW CREDAGE NIGERIA LIMITED 

26 LENDHA TECHNOLOGIES LIMITED 

27 DOJA LEMAIRE GLOBAL LIMITED 

28 PAYDAYHUB ONLINE NIGERIA LIMITED 

29 RETAIL BOOSTER LIMITED 

30 FINNEW FINTECH LIMITED 

31 FEZOTECH NIGERIA LIMITED 

32 ORANGE LOAN & PURPLE CREDIT LIMITED 

33 CITADELE CAPITALS LIMITED 

34 FEWCHORE FINANCE COMPANY LIMITED 

35 A1 CAPITAL SOLUTION LIMITED 

36 ONE PAYOUT LIMITED 

37 LINKPARK TECHNOLOGY NIGERIA LIMITED 

38 LIDYA GLOBAL LIMITED 

39 PHOENIX PAYMENT SOLUTIONS LIMITED 

40 RED PLANET NIGERIA LIMITED 

41 KWABA INTERNATIONAL LIMITED. 

42 MAYWOOD LENDING LIMITED. 

43 PRINCEPS CREDIT SYSTEM LIMITED 

44 LINKPARK TECHNOLOGY NIGERIA LIMITED 

45 FINPADI TECHNOLOGIES LIMITED


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