The Federal Competition and Consumer Protection Commission has begun phased enforcement against digital money lenders that failed to comply with the 2025 Digital, Electronic, Online and Non Traditional Consumer Lending Regulations. Operators were given until January 5, 2026 to regularise their operations.
In a statement, Executive Vice Chairman and Chief Executive Officer Tunji Bello said the compliance window has closed and enforcement has started in a fair and orderly manner. He explained that the move is to give full effect to the new rules and ensure regulatory certainty in Nigeria’s digital lending market.
The Commission has withdrawn conditional approvals earlier granted to some lenders that did not complete their regularisation within the transition period. These operators have now been removed from the FCCPC’s public register of approved digital lenders until they fully meet all requirements.
Bello said the register is an important tool to guide consumers toward lenders that have met regulatory standards at the time of listing. He urged Nigerians to be cautious when dealing with any platform not appearing on the current register of approved operators.
The FCCPC has also opened structured engagement with app hosting platforms and payment service providers to support enforcement and compliance monitoring. The Commission warned that additional regulatory steps will follow in line with the law and due process.
For operators that still hold provisional status under transitional arrangements, April 2026 has been set as the deadline to complete registration under the DEON Regulations. Those that fail to regularise by then may face further sanctions.
According to the Commission, the clampdown is meant to strengthen market discipline, protect compliant lenders from unfair competition and shield consumers from abusive or deceptive practices. The FCCPC restated its commitment to transparent regulation, fair competition and effective consumer protection in Nigeria’s growing digital economy.
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