AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
You are entitled to know what you borrowed, what you have paid and what you still owe. For digital lenders, Regulation 21(b) of the FCCPC's 2025 digital lending regulations says every consumer is entitled to request and obtain a statement, to be provided within 24 hours. Ask in writing, keep proof of the request, and if the lender does not respond, complain to the FCCPC (for loan apps) or the CBN (for banks and microfinance banks).
Why a loan statement matters
A loan statement is the lender's record of your account: the amount disbursed, every charge and interest posting, each repayment received and the balance outstanding. Without one you cannot check whether a payment was applied correctly, whether penalties were added, or what figure you should pay to clear the loan. Disputes over 'I have paid' and 'you still owe' almost always come down to the statement.
Borrowers usually ask for one at three moments: when a balance looks wrong, when they want to settle early, and when a debt collector demands a figure they do not recognise.
What the rules say
Digital lenders and loan apps
The FCCPC's Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 cover lenders that offer credit through apps and online channels. Regulation 21(b) states that every consumer shall be entitled to request and obtain a statement, a history of their use of the service, and requires the provider to supply it within 24 hours. The FCCPC resumed implementing the regulations on 20 July 2026 after a Federal High Court ruling in Lagos.
The same regulations require lenders to resolve complaints within 24 hours, or where that is impracticable within no more than 48 hours (Regulation 22(d)), and to tell consumers their options for escalation (Regulation 22(c)).
Banks and microfinance banks
Banks and microfinance banks are supervised by the CBN, which has its own consumer protection rules and complaints process. In practice any bank will provide a loan account statement on request, often through internet banking or at a branch. Our guide on borrower rights under CBN consumer protection rules sets these out, and how to complain to the CBN explains escalation.
What a useful statement should show
- Your name, the loan account or reference number and the lender's registered name.
- Date and amount disbursed, and any fees deducted at disbursement.
- Each interest, fee or penalty posting, with its date.
- Each repayment received, with its date and how it was applied (to interest, fees or principal).
- The current outstanding balance and the amount to clear the loan today, if different.
Steps: how to request one
- Send a written request through the lender's official channel: in-app support, the email on its website, or a letter to its registered office. A phone call alone leaves no record.
- Give your full name, phone number, loan reference and the period you want the statement to cover.
- Ask for the statement in a format you can keep, such as a PDF.
- Note the date and time you sent the request and keep a screenshot or copy.
- If a digital lender has not responded within 24 hours, send a reminder citing Regulation 21(b) of the FCCPC 2025 regulations.
- If there is still no response, escalate (see below).
A short request you can adapt
Where to escalate
| Lender type | Escalate to |
|---|---|
| Loan app or digital lender | FCCPC; the 2025 regulations give lenderstaskforce@fccpc.gov.ng for complaints (Regulation 26(2)) |
| Bank or microfinance bank | The bank's complaints unit first, then the CBN's consumer protection department |
| Cooperative | The cooperative's committee, then the state's department of cooperatives |
Attach your request, the date sent and any replies. If a statement shows an amount you dispute after settlement, see how to dispute a credit report error, since the same wrong figure may have been reported to the credit bureaus.
Worked example: checking a statement
Example only. You borrowed ₦80,000 with ₦4,000 deducted as a fee, so you received ₦76,000. The agreed repayment was ₦92,000. You paid ₦50,000 and then ₦30,000, a total of ₦80,000. The balance should be ₦92,000 − ₦80,000 = ₦12,000. If the statement shows ₦19,000, the ₦7,000 difference must be explained: perhaps a penalty, perhaps a payment not applied. A written statement lets you ask about the exact line.
If the statement shows charges you do not recognise
Mark each line you dispute and write back asking for an explanation of the charge, the clause in your agreement that permits it, and the date it was applied. Regulation 17(a) of the FCCPC's 2025 regulations requires fees and repayment terms to be disclosed before a transaction is completed, so a charge that was never disclosed is worth challenging. Keep paying anything you agree is owed while the dispute is open, so that you are not pushed into default over the amount that is not in question. Ask the lender to note the dispute on your account, and if it reports the disputed balance to the credit bureaus, raise it with them as well.
Where Pryme fits
Any Pryme customer can generate a regular or a verifiable statement in the app, made with our partner VerifyDoc.ai, and anyone can check that a verifiable one is genuine and unaltered. See receipts and statements.
Questions people ask
Can a loan app refuse to give me a statement?
Under Regulation 21(b) of the FCCPC 2025 digital lending regulations, every consumer is entitled to request and obtain a statement within 24 hours. If refused, complain to the FCCPC.
How do I get my loan statement from a bank?
Ask through internet banking, the bank's email or a branch, in writing. If the bank does not respond, use its complaints unit and then the CBN.
How long does a lender have to send a loan statement?
For digital lenders, the FCCPC regulations say within 24 hours of the request.
Where do I report a loan app that ignores my complaint?
The FCCPC. The 2025 regulations give lenderstaskforce@fccpc.gov.ng as the address for complaints about digital lenders.
Sources
- FCCPC: Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 (made 21 July 2025) · accessed Oct 2026
- FCCPC: FCCPC resumes digital lending regulation (20 July 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.