Frequently Asked Questions on FCCPC’s new consumer lending regulations
Below are answers to common questions from Lenders, compliance teams, and other stakeholders about FCCPC's DEON CL.
Are lenders evil for charging high interest rates?
The average lender today would typically charge 4% — 10% per month (48% — 120% per year) on a loan. Whoa. Does it make you wonder how they are able to recover loans with these rates? What probably immediately comes to mind is how crazy and horrible these rates are and that there is no […]
Important regulators every Nigerian lender should know
The ease at which one can wind up in trouble when handling money is unprecedented. For an industry as delicate as lending, it’s even 10x faster to end up in one regulatory mishap or the other. Unless you know your way around...












