Consumer credit is debt that is obtained by persons who intend to spend the money immediately. Assessing consumer credit tells us imperative things about our economy. If consumers have the capacity to borrow effortlessly and refund those debts on time, then the economy should be stimulated and we will have growth. Consumers are the instrument and brainbox of the economy, when credit is unavailable, consumers will face foremost complications in borrowing. In this circumstance, consumers would consume less since they have less access to credit. For this reason, manufacturers will sell less, and produce less. The importance of a viable consumer credit system cannot be over emphasized. This paper hypothesizes that certain identified factors militate against the development of a strong consumer credit system in Nigeria. It examines and analyses these challenges and exposes their negative roles in the development of a strong consumer credit system. It focuses on strategies that can improve consumer access to credit facilities and concludes that there is need for a paradigmatic change. It therefore makes recommendations that can challenge Nigerian policy makers to improve on, or evolve a stronger consumer credit system.
The vulnerability of the consumer in the market place has been attributed largely to the superior position of the manufacturers or suppliers of goods and services. Regulatory Agencies in telecommunications are part of the administrative mechanism for strengthening the position of a Nigerian consumer who almost always is shortchanged by poor services and exploitative prices. The deregulation of the telecommunications sector despite its attendant utilities is still bedeviled with substantial consumer problems. Issues of drop calls, unsolicited adverts, network failure, and ineffective consumer complaint mechanism abound. This and many other problems have continued to attract the comments, remarks and opinions of members of the public and legal writers on the potency or otherwise of the regulatory agencies in telecommunications. This work appraises the legal relevance of the regulatory agencies in telecommunications with a view to repositioning them for better sector consumer protection. The work espouses that there is an urgent need to review telecommunications regulations particularly with respect to competition and unsolicited advertisements. The need for a review of the NCC Act, 2003 and the domestication of US TCPA 1991 has become inevitable. IntroductionThe concern of the regulatory agencies in the telecommunications industry is to ensure consumer satisfaction. Notwithstanding the deregulation of the industry and its attendant consequences, telecommunications services providers have been berated for consistently delivering poor services to subscribers in Nigeria [1]. An assessment of the performance of the telecommunications regulatory agencies in the area of consumer protection is aimed at determining the position of the consumer in the regulatory process. In doing this, it is necessary to discuss about the many stakeholders in the regulatory process.
This article is focused on the classification of credit security in Nigeria with a view to resolving the perceived dichotomy in the categorization. Credit security generally is within the ambit of property law which is circumstanced in secured credit. The work also attempts to determine the legal basis of this classification and the inherent utilities. We summarize that classification of security should be maintained for the purpose of distinction and clarity in aid of the unwary and non-legal minds.
This work is aimed at appraising the impact of the regulatory and operational framework of microfinance banks on the consumer. It is illicited by the current negative complaints on the role of microfinance banks in the economy generally and consumers in particular since its birth. Generally, the banking industry is so strategic to the economy that naturally, everybody is a stakeholder. It act as lubricants of the economy custodians of the payment system, saving mobilization, financing trade, agriculture, industry, consumer activities, stimulate economic and assist consumers in providing micro credits. The cost of credit as evidenced in the high interest rate, the non-availability of branches in many rural communities and incessant distress of many micro-finance banks has become a source of concern for consumers who are gradually losing confidence in the system. The paper has examined the impact of the regulatory and operational framework and identified inhibitions and make recommendations for repositioning for better service delivery especially in the emerging digital age in banks operation.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
customersupport@researchsolutions.com
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.