The Federal Government is investigating “sharp-sharp” loan operators for violating customers’ data privacy, Nigeria Data Protection Commission (NDPC) National Commissioner Vincent Olatunji revealed Tuesday.
These unregulated digital lenders—often called loan sharks—provide instant loans without collateral but have been accused of aggressive recovery tactics. Speaking on the sidelines of a Data Protection Officers training in Abuja, Olatunji said some apps access borrowers’ phone contacts, harass family and friends, share images without consent, and send defamatory threats.
He urged Nigerians to read loan agreements carefully, raise awareness of their rights, and note that such unethical practices occur globally. “Many borrowers expose their data by skipping agreements,” Olatunji said. “Online-only operators complicate regulation, but privacy compliance is mandatory before operating in Nigeria.”
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Olatunji highlighted multi-agency oversight: FCCPC leads consumer protection with licensing that mandates privacy safeguards; NITDA, NCC, CBN, and police also enforce rules. “Unauthorized contact access is a crime—we will pursue them,” he warned.
On high-profile cases, NDPC has finalized its Sterling Bank probe, while Remita and Temu investigations follow due process, including extensions for Temu’s defense.
NDPC prioritizes accountability for data handlers to protect Nigerians’ personal information.
