Quote from Ndubuisi Ekekwe on April 7, 2023, 7:32 PM

Digital lenders everywhere in Nigeria. The Chairman of the regulator posits about 200 of them.

• “There are many people who didn’t meet the deadline as some registrations were still incomplete. The initial deadline was actually January 31. And we’re actually surprised about the sheer number of digital lenders that existed, and ultimately they are probably more than 200.
• “We didn’t think they were that many. But what the framework has also done is that it has brought some honest people who really want to get into the business, but wanted a legitimate and transparent framework. And seeing that the numbers are quite many doesn’t mean that all of them are lending. Many people are also getting licenses to prepare for their businesses.” - Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Iruker