The Federal Competition and Consumer Protection Commission, FCCPC, has commenced enforcement actions against digital money lenders that failed to regularise their operations under Nigeria’s new digital lending rules.
The move follows the expiration of the compliance deadline set by the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025. FCCPC Executive Vice Chairman, Tunji Bello, said the action is aimed at restoring order, transparency and consumer confidence in the fast-growing digital lending market.
According to the Commission, lenders that did not complete the regularisation process have lost their conditional approval status and have been removed from the FCCPC’s official register of approved digital lenders. Consumers were advised to be cautious when dealing with operators not listed on the register.
FCCPC also confirmed ongoing engagement with app hosting platforms and payment service providers, while granting provisionally approved lenders until April 2026 to fully comply or face further sanctions.
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