QUICK LOAN ARENA reports that the Federal Lawmaker, representing Egbeda/Ona Ara Federal constituency, Hon. Akin Alabi has moved a motion in the House of Representatives to halt the malicious and brutal blackmails, threats and excesses of quick loan apps and lending companies and platforms across the nation.
Lawmaker moves motion to halt threats, harassment to Nigerians by loan apps, platforms
Loan apps and lending platforms had lately been involved in gruesome blackmails and threats unsing underhanded tactics like harassing and sending threat messages to customers and their entire families and contact list once there is an alleged 24 hour loan default. QUICK LOAN ARENA understands this is against the data provacy policy which the loan apps subscribes to, on behalf of their customers and is in breach of their privacy in the process.
Hon Akin Alabi, in his motion stated that these companies have been operating outside the principles of fair and lawful processing of personal data as required under the Nigeria Data Protection Regulation and other relevant provisions on data protection in Nigeria.
Hon Alabi called on the CBN to provide better regulation for these financial service providers, and for the the National Information Technology Development Agency (NITDA) to ensure strict adherence to the Nigerian Data Protection Regulation by all online loan providers.
QUICK LOAN ARENA has been championing campaign to halt the harassment and threat by this loan apps and platforms and we have published several stories of how Nigerians have been subjected to lamentable conditions in the process.
Familes and contact list of alleged loan defaulters who are not parties to the loan contract are always labelled as criminals and robbers all in a bid to harass and shame the customer to pay up. This is unethical.
See the motion by Hon Akin Alabi to the house of representatives