The Lagos State Government has acted against 21 unlicensed money lending operators in a bid to tighten regulation and ensure adherence to the law within the sector.
This was disclosed on Tuesday at Alausa, Ikeja, by the Commissioner for Home Affairs, Olanrewaju Layode, during a press briefing marking the second anniversary of Governor Babajide Sanwo-Olu’s second term in office.
Layode highlighted the complexities involved in regulating the money lending business and noted that there are currently about 623 registered money lenders actively operating in Lagos.
He revealed that some operators have failed to obtain the necessary licenses, prompting the government to sanction and seal the offices of 21 illegal money lenders.
The commissioner also expressed concern over attempts by some offenders to avoid monitoring by changing their business locations without notifying the ministry.
In another development, Layode commended the efforts of the Lagos State Christian Pilgrims Welfare Board, led by Secretary Dr. Gbolabo Okudero, for their ongoing initiatives to promote awareness and participation in forthcoming Christian pilgrimages.
The board has been visiting key stakeholders such as government agencies, local councils, media houses, corporations, and churches to foster collaboration.
“The board remains dedicated to improving the pilgrimage experience and nurturing the spiritual wellbeing of Lagosians through sustained partnerships across the state. We anticipate a seamless pilgrimage season in 2025,” Layode added.
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