Trouble for Palmpay, OKash and others as Nigerian government bars online banks from accessing customers’ photos including contacts

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 The Nigerian government has strictly announced plans to bar online banks and loan applications from accessing their customers’ contacts or photos from May 31, 2023.


The Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera, stated this following the latest policy by Google.


Recall that Google, in its April 2023 policy updates, said digital money lenders in Nigeria, India, Indonesia, the Philippines, and Kenya are to conform to regulatory rules or be taken down from Play Store.


The firm said only digital money lenders that have adhered to and completed the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (as may be amended from time to time) by the FCCPC and obtain a verifiable approval letter from the Commission will be allowed on its platform in Nigeria.


Google had said, “Policy preview (effective May 31, 2023): This article previews changes included in our April 2023 policy updates.

Irukera disclosed that the Commission had recently approved 173 digital lending applications to operate in the country, stating that 119 of these got full approvals while 54 got conditional approvals.

He said, “It is a welcome development effort and is consistent with the position the FCCPC has taken and what we are enforcing.

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