The Federal Competition and Consumer Protection Commission (FCCPC) has launched a phased enforcement process targeting digital money lending operators that failed to regularise their operations in line with Nigeria’s new regulatory framework.
In a statement issued on Wednesday, the Commission’s spokesperson, Ondaje Ijagwu, said the enforcement drive applies to digital money lenders that did not comply with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations), before the January 5, 2026 deadline.
Speaking on the development, the FCCPC’s Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the move was aimed at strengthening regulatory certainty and protecting consumers within Nigeria’s fast-growing digital lending sector.
“The compliance window provided under the Regulations has now closed. The Commission is therefore proceeding with appropriate enforcement measures in a fair, orderly and lawful manner,” Bello said. “Our objective is to promote discipline, transparency and consumer confidence, not to disrupt legitimate business activities.”
As part of the enforcement framework, the FCCPC has withdrawn the conditional approvals previously granted to some digital lenders that failed to complete the regularisation process during the transitional period. These operators have also been removed from the Commission’s official register of approved digital lenders, pending full compliance with regulatory requirements.
Bello explained that the FCCPC register serves as a critical consumer protection tool, helping the public identify lenders that meet regulatory standards. He advised consumers to exercise caution when engaging with digital lending platforms not listed on the Commission’s current register.
The Commission has also begun structured engagements with app hosting platforms and payment service providers as part of broader compliance monitoring efforts. According to the FCCPC, further regulatory actions will be taken in line with existing laws and due process.
For operators provisionally recognised under transitional arrangements, the FCCPC has set April 2026 as the final deadline to regularise their registration under the DEON Regulations. Bello warned that lenders who fail to comply within the extended window risk facing additional regulatory sanctions.
The Commission reiterated that the enforcement exercise is designed to ensure market discipline, protect compliant businesses from unfair competition, and shield consumers from abusive or unlawful lending practices.
“Effective regulation depends on consistency. Law-abiding operators deserve a predictable regulatory environment, while consumers are entitled to protection under the law,” Bello said.