(Contd)

Each interviewee emphatically described the situation as insufferable leading to them taking steps like placing the phone on Do not Disturb (DND) just to get a good night's sleep. “The  calls and texts never stop. They even sent me messages on WhatsApp cursing me, my friends and family,” Bose added. Zakariyyah added that the apps often engage in call spamming and harassment through unknown numbers on WhatsApp. This creates a cycle of anxiety, arguably unavoidable when one wakes up to 50 missed calls from a loan app, as Ali experienced.

This consistent harassment highlights the constant stress, sleep and strained social relationship faced by students who have taken loans from these apps. Now, these consequences go beyond money, anxiety, disrupted sleep and mental stress, but also reputational harm and strained friendships and family relationships due to harassment of contacts.

 We must also highlight, however, the fact that  these predatory loan apps often hide critical information in their Terms of Services, allowing harassment and data misuse under the guise of legal content. After thorough analysis, the following features were found;

These apps require access to the user's contacts, SMS messages and call logs. They use this data for the frequent calls and notifications which become harassment. Precisely what Bose and Zakariyyah explained. 

Legal disclaimers sometimes give the company the right to contact you using any channel deemed necessary. This enables 24/7 calls, WhatsApp spams and abusive messages.

Furthermore, just as we hypothesised earlier, all interviewees agreed that these apps target students because they are young, financially vulnerable and active digitally. Ads appeal to their immediate needs, tuition and emergencies making borrowing seem necessary and low risk. 

With all these having been said, we then consider how proactive and reactive both the government and regulatory bodies AND students themselves have been regarding these crimes.

Relatively, the Nigerian Cybersecurity and consumer protection systems remain insufficient. Zakariyyah noted, "I don't think they are doing much or anything to curb it.” This statement can be referred to as understandably reasonable given that the measures put in place by regulatory bodies and the actions taken by the government as it pertains to this issue, are not properly implemented or enforced. This situation likely led to the establishment of the Federal Competition and Consumer Protection Commission (FCCPC) which introduced strict regulations and a defined registration structure for lenders, as well as restrictions on abusive tactics. 

In order to curb the rapid proliferation of these negative digital occurences, awareness of FCCPC's regulatory rules and actions is important. These include:

1. Mandatory registration: All digital lenders should be registered with the FCCPC, adhering to new standards for consumer protection, data privacy, and transparency.

2. Ban on pre-authorised lending and contacting friends/family for debt collection.

3. Mandatory clear, accessible loan terms.

4. Non-compliance may result to fines ranging up to ₦100 million or a one percent turnover, disqualification, and possible law enforcement action.

5. The FCCPC provides channels for consumers to report harassment and issues. 

Now, for the students and overall consumers of loan services generally, the following are measures to be worthy of note:

Proper documentation: Keep screenshots, call logs, and messages as evidence.

Report to FCCPC: File complaints via their official website or email.

Be aware and informed of your rights: Understand that harassment, shaming, and third-party contact are illegal.

Utilise approved lenders only: Patronize only lenders listed on the FCCPC's approved list.

With cautious, intentional and avid implementation of these strategies and obedience to these regulations, to a large extent, at the very least, the rise of predatory loan apps and resultant harassment and negative impact, will reach depths as low as desperately needed. 

NOTE: Names have been changed/altered for the sake of anonymity and respect for source privacy.