Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has initiated enforcement measures against digital money lenders that did not meet the registration and regularisation requirements outlined in the 2025 Digital Lending Rules.
The Commission announced the move via a statement shared on its official X account, noting that the compliance deadline for affected operators elapsed on Monday, January 5, 2026.
Regulator Explains Enforcement Rationale
Speaking on the development, FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the action is intended to reinforce accountability, transparency, and consumer protection within Nigeria’s fast-growing digital lending sector.
“With the close of the compliance window provided under the Regulations, the Commission is now taking appropriate enforcement steps that are fair, structured, and in line with due process,” Bello stated.
He clarified that the Commission’s objective is not to undermine legitimate operators but to ensure full adherence to rules designed to safeguard borrowers.
FCCPC Removes Non-Compliant Lenders From Register
The FCCPC has also revoked the conditional approvals previously granted to digital lenders that failed to complete the regularisation process within the approved transitional period.
As a result, these operators have been delisted from the FCCPC’s official register of approved digital lenders, which serves as a reference point for consumers seeking compliant and credible lending platforms.
Bello described the register as a key consumer protection tool and urged Nigerians to be wary of lenders that do not appear on the Commission’s updated list.
Monitoring Expanded to App Stores and Payment Channels
In addition to direct enforcement, the FCCPC disclosed that it has commenced structured engagements with app hosting platforms and payment service providers as part of its expanded monitoring framework.
The initiative aims to limit the reach of unregistered digital lenders and strengthen regulatory oversight across mobile lending applications and digital payment systems.
April 2026 Deadline for Transitional Operators
Digital money lenders provisionally recognised under transitional arrangements have now been granted a new compliance deadline of April 2026 to complete registration under the DEON Regulations.
According to Bello, the extension is designed to give affected operators an opportunity to regularise their status, warning that failure to do so could attract further regulatory sanctions.
Public Advisory to Consumers
The FCCPC reiterated the importance of its approved lenders’ register and advised consumers to verify the status of any digital lender before borrowing.
The Commission added that it will continue updating the register and intensifying enforcement efforts to promote a more transparent, responsible, and consumer-friendly digital lending environment in Nigeria.
