Nigerian Communications Commission (NCC) has cautioned members of the public to be cautious of fraudulent activities of those it described as loan sharks.

The Commission said it has received over 20,000 complaints from those who have fallen victim to the sharp practices of online fraudsters.

The Head of Consumers Affairs Bureau of the commission, Mr. Ayanbanji Ojo, spoke on Thursday during a telecom consumer’s sensitisation programme with the theme: “Shine Your Eyes- No Fall Mugu,” at the spare parts Market, Agodi-Gate, and Ibadan.

Noting the need to educate the people on the financial fraud going on in the telecom space, Ojo said the activities of the loan sharks have caused a lot of people pain with many traders vulnerable to what is going on.

“There have been so many complaints on the loss of money, so we need to educate our consumers all the time because we are now in the sustainability of telecommunications industry and if we do not sustain the telecom consumers there is nothing we cannot do.

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