Nomba and Globus Bank say they built a loan book with sub-1% defaults
TechCabal | 10.04.2026 16:07
Defaulting on a loan with some digital lenders can turn into relentless phone calls, frozen accounts, office raids, threats, and, in some cases, public shaming. In 2025, the Federal Competition and Consumer Protection Commission (FCCPC) introduced fines of up to ₦100 million ($72,000)—or 1% of annual turnover—for lenders who resort to harassment and intimidation as loan recovery tools.
