FG bars online banks from accessing customers’ photos and contacts
Nigeria’s federal government has made it illegal for loan apps to access users’ contacts and photos.
According to a new Google policy, lending applications on the Play Store will no longer be able to access the contacts or images of its customers as of May 31, 2023.
Google stated in its April 2023 policy revisions that the new policy update would give Nigerian and other users of loan applications some relief from the clunky loan recovery techniques used by the bulk of loan apps.
The FG claimed that Google’s most recent policy was in line with efforts being made by Nigerian authorities to prevent loan app companies from violating their users’ privacy.
Out of the 200 lending applications currently active in the nation, the Federal Competition and Consumer Protection Commission recently registered 170 of them.
“Policy preview (in effect as of May 31, 2023): This post provides a sneak peek at the modifications to our policies coming in April 2023.
We are revising our policy on personal loans such that it now specifically prohibits apps from accessing user contacts or images in order to provide or facilitate personal loans.
“We are adding new specifications for personal loan apps aimed at Pakistani users. Applications for personal loans in Pakistan are subject to submission of licensing information relevant to that nation.
This new guideline follows Google’s revisions to its Developer Program Policy, which required digital money lenders in Nigeria, India, Indonesia, the Philippines, and Kenya to comply with legal requirements by January 31 or face being pulled down.