Frequently asked questions on direct debit mandates for loan repayment
Industry Information

Frequently asked questions on direct debit mandates for loan repayment

Direct debit mandates have become a common tool for loan repayment, helping lenders automate collections and reduce missed payments. But for many borrowers and even lenders, questions still arise around how these mandates work, what consent really means, and how disputes or cancellations are handled. From setup and authorization to compliance and customer protection, understanding the key aspects of direct debit is essential for building a smooth, transparent, and trustworthy repayment process.

Frequently Asked Questions about MFB license
FAQs

Frequently Asked Questions about MFB license

This FAQ is written for founders, operators, investors, and lending teams who are either planning to apply for a MFB license or already exploring what running one actually involves.

Nigeria’s Banks and Other Financial Institutions Act
Industry Information

Nigeria’s Banks and Other Financial Institutions Act

This article walks through Nigeria's Banks and Other Financial Institutions Act in a way that connects the legal provisions to how lending businesses actually operate.