The Nigerian Consumer Credit Corporation, CREDICORP, has warned lenders against harassing, threatening or publicly humiliating borrowers over unpaid loans.

In a statement on Thursday, the corporation said debt recovery must be carried out lawfully and with respect for consumers’ dignity.

It listed threats, abuse, contacting borrowers’ family members or employers, and publicly shaming debtors on WhatsApp or social media among practices lenders should avoid.

“Falling behind on a loan does not give any lender the right to harass you. Debt recovery must follow collection practices. That means: no threats, no abuse, no calls to your family or employer, and no public shaming on WhatsApp or social media,” CREDICORP said.

The corporation stressed that being indebted was not a crime and that borrowers retained their rights even when they defaulted on loan repayments.

“Being in debt is not a crime, but unfair treatment is,” it said.

CREDICORP also cited Section 34 of the Nigerian Constitution, which guarantees the right to the dignity of the human person, and noted that the Federal Competition and Consumer Protection Commission’s lending framework prohibits intimidation and privacy violations.

It advised borrowers who believe their rights have been violated during debt recovery to document the alleged misconduct and report it to the FCCPC or the Central Bank of Nigeria.

The warning follows an earlier advisory by CREDICORP urging Nigerians to consider the full cost and repayment implications of loans rather than focusing only on interest rates.

The corporation said its latest guidance was for informational purposes and did not constitute legal advice or official policy guidance.