The Federal Competition and Consumer Protection Commission (FCCPC) has commenced enforcement actions against digital money lenders that failed to meet the regularisation deadline set under the 2025 Digital Lending Rules.
The Commission made this known in a notice published on its official X page yesterday, noting that the compliance window for affected operators expired on January 5, 2026.
Commenting on the start of enforcement, the FCCPC’s Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the measures were necessary to ensure full implementation of the Regulations and to sustain regulatory clarity within Nigeria’s digital lending sector, in line with the Commission’s legal responsibilities.
“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,” Bello said.
He added, “the objective is to promote discipline, transparency, and consumer confidence within the digital lending space, not to disrupt legitimate business activity.”
Under the approved enforcement framework, the Commission has revoked the conditional approval earlier granted to some digital money lending operators that failed to complete the regularisation process during the transition period.
As a result, a notice signed by the FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, stated that the affected operators have been removed from the Commission’s official register of approved digital lenders, pending full compliance with relevant regulatory conditions.
Bello explained that the FCCPC’s register plays a critical role as a consumer guidance tool.
“The register is intended to guide the public on operators that have met the regulatory requirements 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.
The Commission has also begun structured engagements with application hosting platforms and payment service providers, in line with its statutory duties, as part of its broader enforcement and compliance monitoring process.
It added that additional regulatory actions would be taken where necessary, in accordance with the law and established procedures.
For operators provisionally classified as eligible under transitional arrangements, the FCCPC has set April 2026 as the deadline to complete 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.
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 depends on consistent application. Compliant businesses deserve a predictable regulatory environment, and consumers are entitled to protection under the law,” Bello added.
The Commission reiterated its commitment to transparency, fair competition, and strong consumer protection across Nigeria’s digital economy.
According to FCCPC records, the number of registered digital lenders rose to 521 by early January 2026, with most securing full approval, while others remained under conditional status at that time.
The data further showed that more than 100 unregistered loan applications remained on the Commission’s watch list and could face enforcement action.
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