Tochukwu Bliss, Abuja
The Federal Competition and Consumer Protection Commission (FCCPC), said it has commenced a phased enforcement of its Digital Money Lending (DML) policy, which deadline was Monday, January 5, 2026.
The enforcement will affect operators that did not regularise their status in accordance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
Speaking on the enforcement measures, the Executive Vice Chairman and Chief Executive Officer, FCCPC, Tunji Bello, in a statement, said the actions were necessary to execute the Regulations, and to maintain regulatory certainty in Nigeria’s digital lending market, in line with the Commission’s statutory mandate.
He was quoted as saying: “The compliance window provided under the Regulations has now closed. At this stage, the Commission is proceeding with appropriate enforcement steps in a manner that is fair, orderly, and consistent with due process.
“The objective is to promote discipline, transparency, and consumer confidence within the digital lending space, not to disrupt legitimate business activity.”
As part of the enforcement framework, the Commission said it has withdrawn the conditionally approved status previously granted to certain DML operators that did not complete the required regularisation process within the transitional period.
Consequently, such operators have been removed from the FCCPC’s published register of approved digital lenders, pending compliance with applicable regulatory requirements.
The objective is to promote discipline, transparency, and consumer confidence within the digital lending space, not to disrupt legitimate business activity.
Bello noted that the Commission’s published register serves as an important consumer information tool.
“The FCCPC’s register is intended to guide the public on operators that have met the applicable regulatory requirements as at the time of publication.
“Consumers are advised to exercise caution when dealing with digital lenders that do not appear on the Commission’s current list of approved operators,” he said.
Additionally, the Commission has also commenced structured engagement with relevant application hosting platforms and payment service providers, consistent with its statutory functions, as part of ongoing enforcement and compliance monitoring activities. Further regulatory steps will be undertaken in accordance with law and established procedures.
For those provisionally designated as eligible under transitional arrangements, the Commission has issued a deadline of April 2026 to regularise their registration under the DEON Regulations.
“This window is provided to enable affected operators to take steps towards compliance. Operators that choose not to regularise their status within this period may be subject to further regulatory measures, as provided under the law,” Bello stated.
According to the FCCPC, the ongoing enforcement process is intended to support market discipline, protect compliant operators from unfair competitive practices, and safeguard consumers from abusive, deceptive, or unlawful conduct.
“Effective regulation depends on consistent application. Compliant businesses deserve a predictable regulatory environment, and consumers are entitled to protection under the law,” Bello added.
The Commission reaffirmed its commitment to transparent regulation, fair competition, and effective consumer protection across Nigeria’s digital economy.
