The Federal Competition and Consumer Protection Commission (FCCPC) has begun phased enforcement actions against digital money lending operators that failed to regularise their operations under Nigeria’s new digital lending framework, following the expiration of the compliance deadline on Monday, 5 January 2026.
The enforcement follows the implementation of the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations), which set out mandatory requirements for all digital money lenders operating in the country.
Speaking on the commencement of enforcement measures, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the actions were necessary to give full effect to the Regulations and to ensure certainty and order in Nigeria’s rapidly expanding digital lending market.
“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.
“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As part of the approved enforcement framework, the Commission has withdrawn the conditionally approved statuspreviously granted to digital money lenders that failed to complete the required regularisation process within the transitional period.
As a result, affected operators have been removed from the FCCPC’s published register of approved digital lenders, pending full compliance with applicable regulatory requirements.
Bello explained that the Commission’s register plays a critical role in consumer protection and public awareness.
“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.
The FCCPC also disclosed that it has commenced structured engagement with application hosting platforms and payment service providers as part of its ongoing enforcement and compliance monitoring activities, in line with its statutory mandate. It added that further regulatory steps would be taken in accordance with the law and established procedures.
For digital lenders provisionally designated as eligible under transitional arrangements, the Commission has set April 2026 as the final deadline 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.
The Commission stressed that the enforcement exercise is aimed at strengthening market discipline, protecting compliant operators from unfair competition, and shielding consumers from abusive, deceptive, or unlawful lending 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 FCCPC reaffirmed its commitment to transparent regulation, fair competition, and effective consumer protection across Nigeria’s digital economy.
Boluwatife Enome
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