The Nigerian federal government has prohibited loan apps from accessing customers’ photos and contacts.
According to a new Google policy, loan apps on the Play Store will no longer be able to access their users’ contacts or photos after May 31, 2023.
Google stated in its April 2023 policy updates that the new policy update would provide relief to loan app users in Nigeria and other countries who had grown accustomed to the crude loan retrieval methods used by the majority of loan apps.
According to the FG, Google’s latest policy was consistent with Nigerian authorities’ efforts to limit loan app firms’ invasion of customers’ privacy.
The Federal Competition and Consumer Protection Commission recently registered 170 loan apps out of the 200 that are currently operating in the country.
“Policy preview (effective May 31, 2023):” Google stated. This article previews policy changes that will be implemented in April 2023.
“We are updating our personal loans policy to state that apps that provide or facilitate personal loans are not permitted to access user contacts or photos.”
“We are introducing new requirements for personal loan apps aimed at Pakistani users.” In Pakistan, personal loan apps must submit country-specific licensing documentation to demonstrate their ability to provide or facilitate personal loans.”
This new policy follows Google’s announcement of updates to its Developer Program Policy, which requires digital money lenders in Nigeria, India, Indonesia, the Philippines, and Kenya to comply with regulatory rules or be removed by January 31.
