By Muhammadu Sabiu
As of May 31, 2023, loan apps downloaded from Play Store will no longer have access to the contacts or photographs of their users.
The Federal Government announced that it would enforce Google’s most recent privacy guidelines, noting that this is in line with Nigerian authorities’ efforts to stop lending app companies from violating their users’ privacy.
The Federal Government recently took significant measures to address the way these loan applications violate the privacy of their users.
Out of the 200 lending applications currently active in the nation, 170 had just been registered with the Federal Competition and Consumer Protection Commission.
Google said, “Policy preview (effective May 31, 2023): This article previews changes included in our April 2023 policy updates.
“We are updating our personal loans policy to state that apps aiming to provide or facilitate personal loans may not access user contacts or photos.
“We are introducing additional requirements for personal loan apps targeting users in Pakistan. Personal loan apps in Pakistan must submit country-specific licensing documentation to prove their ability to provide or facilitate personal loans.”
This new regulation follows the company’s revisions to its Developer Programme 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 shut down.