The federal government has extended the registration deadline for DML, a digital money lender.
The federal government has extended the registration deadline for Digital Money Lenders, DML.
This was included in a statement released Friday by Federal Competition and Consumer Protection Commission (FCCPC) Senior Vice President/CEO Babatunde Irukera.
The committee stated that this announcement was made after several DMLs failed to complete their paperwork.
He added that the extension will last until March 27, 2023 to avoid market disruptions. “This should secure pending DML registrations and prevent serious market disruption.
However, the Board found that some DMLs did not provide all the necessary documentation to complete the registration process. For this reason, commission has extended the registration deadline until Monday, March 27, 2023,” EVC said in a statement.
On December 6, 2022, the commission extended the registration until January 31, 2023.