Lagos govt sanctions 15 money lending firms over operational violations

Lagos State Government has sanctioned at least 15 money lending companies for breaching operational regulations and engaging in activities considered harmful to residents.
The Commissioner for Home Affairs, Ibrahim Layode, disclosed this on Friday during the 2026 Ministerial Press Briefing held in Ikeja, stating that the move was part of ongoing efforts to regulate the money lending sector and shield Lagosians from exploitative and fraudulent financial practices.
According to Layode, the state government remains committed to enforcing strict compliance among operators within the industry.
“The firms were sanctioned to ensure strict adherence to guidelines and to protect Lagosians fr...