Again! NCC Warns Consumers Against Loan Sharks

Again! NCC Warns Consumers Against Loan Sharks


The Nigerian Communications Commission, NCC, has warned members of the public to be cautious of the fraudulent activities of those it described as loan sharks.

This is as the Commission said it had received over 20,000 complaints from those who had fallen victim to the sharp practices of online fraudsters.

The Head of Consumer Affairs Bureau of the Commission, Mr. Ayanbanji Ojo, made the disclosure, on Thursday, during a telecom consumers sensitisation programme themed: “Shine Your Eyes- No Fall Mugu,” held at the spare parts Market, Agodi-Gate, Ibadan, the Oyo State capital.

He said there was a need to educate the people on the financial fraud going on in the telecom space.

Ojo said the activities of the loan sharks had caused a lot of people pain with many traders vulnerable to what is going on.

He enjoined telecom consumers to approach their service providers to resolve their complaints, saying that if the providers are unable to resolve it, they should approach the Commission by dialling 622, which is toll-free.

Ojo says, “The market people are our telecom consumers, without them we can not exist as a regulator. The market people deserve to know what is going on. Today’s programme is different from what we did at Bodija and the University of Ibadan.

“Today we are talking about ‘Shine-your-eyes’ which means there are so many financial fraud going on through the telecom and we want to educate our people, particularly the traders, because most of them are vulnerable to what is going on in the telecom space,” he explained.

Ojo disclosed that there was the need to educate consumers all the time because there had been many complaints on loss of money and being in the period of sustainability of telecommunications industry, everything must be done to sustain telecom consumers.