Central Bank of Lesotho

Missing a loan repayment deadline can be stressful, but how you respond matters more than the setback itself. The best first step is to contact your lender early, explain your situation, and explore available options such as extensions, restructuring, or revised payment plans. Ignoring the issue can lead to added fees, damaged credit history, or aggressive recovery actions. By acting quickly and communicating honestly, borrowers can often reduce the impact and work toward a manageable solution.

The Federal Competition and Consumer Protection Act, 2018, usually called the FCCPA, sits at the core of consumer protection and competition regulation in Nigeria.

The ease at which one can wind up in trouble when handling money is unprecedented. For an industry as delicate as lending, it’s even 10x faster to end up in one regulatory mishap or the other. Unless you know your way around…