Answer :
Answer:
Federal Competition and Consumer Protection Commission (FCCPC)
Explanation:
Federal Competition and Consumer Protection Commission (FCCPC)
As a digital lender in Nigeria, you must know about the FCCPC. If you’re going to lend using technology in the form of a digital channel, especially mobile apps, you must meet the standards and requirements of the FCCPC to lend digitally.
Federal Inland Revenue Service (FIRS)
The Federal Inland Revenue Service is Nigeria’s primary tax collection agency. Its key responsibilities include Tax assessment, tax collection, tax policy implementation, enforcement of tax laws, issuance of tax clearance certificates, revenue accounting, etc. The following are significant taxes you’re required to pay: Withholding tax (WHT), which is an amount deducted at source from payment accruing or made to individuals or corporate entities in respect of income receivable for service(s) rendered; Value Added Tax (VAT) on your earnings; Companies Income Tax (CIT) on the profit of your loan business; Capital Gains Tax (CGT) etc. A lender who plays coy with taxes or tries to evade them risks business foreclosure.
