FCCPC moves against non compliant digital lenders
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 The Commission has withdrawn conditional approvals earlier granted to some lenders that did not complete their regularisation within the transition period.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 […]