Digital Lending Rules: FCCPC Moves Against Non-Compliant Operators

By our Reporter

The Federal Competition and Consumer Protection Commission (FCCPC) has begun a phased rollout of enforcement actions against Digital Money Lending (DML) operators that failed to regularise their operations in line with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).

The deadline for compliance expired on Monday, 5 January 2026.
Commenting on the commencement of the enforcement phase, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, explained that the measures were necessary to give full effect to the Regulations and to ensure regulatory clarity and stability in Nigeria’s digital lending market, in accordance with the Commission’s statutory responsibilities.
“The compliance window provided under the Regulations has now closed. At this point, the Commission is taking appropriate enforcement actions in a manner that is fair, orderly, and consistent with due process,” Mr. Bello said. “Our aim is to foster discipline, transparency, and consumer confidence in the digital lending sector, not to hinder legitimate business operations.”
Under the approved enforcement framework, the Commission has withdrawn the conditional approvals earlier granted to some DML operators that failed to complete the required regularisation process within the transitional period.
As a result, such operators have been delisted from the FCCPC’s publicly available register of approved digital lenders, pending their compliance with relevant regulatory requirements.
Mr. Bello noted that the Commission’s register plays a critical role in informing consumers.
“The FCCPC register is designed to guide the public on operators that have met the applicable regulatory standards at the time of publication. Consumers are therefore advised to be cautious when engaging with digital lenders that do not appear on the Commission’s current list of approved operators,” he stated.
The Commission has also initiated structured engagements with relevant application hosting platforms and payment service providers, in line with its statutory mandate, as part of ongoing enforcement and compliance monitoring efforts. Additional regulatory actions will be taken in accordance with the law and established procedures.
For operators provisionally classified as eligible under the transitional arrangements, the Commission has set April 2026 as the deadline to fully regularise their registration under the DEON Regulations.
“This grace period is intended to allow affected operators to take the necessary steps towards compliance. Operators that fail to regularise their status within this timeframe may face further regulatory actions as provided by law,” Mr. Bello warned.
The FCCPC stressed that the enforcement exercise is aimed at strengthening market discipline, shielding compliant operators from unfair competition, and protecting consumers from abusive, deceptive, or unlawful practices.
“Effective regulation requires consistency. Compliant businesses deserve a stable and predictable regulatory environment, while consumers are entitled to full protection under the law,” Mr. Bello added.
The Commission reaffirmed its commitment to transparent regulation, fair competition, and robust consumer protection across Nigeria’s digital economy.