The Federal Competition and Consumer Protection Commission (FCCPC) has commenced phased enforcement actions against digital money lending operators that failed to meet regulatory requirements under Nigeria’s new digital lending framework.
The compliance deadline for the sector expired on Monday, January 5, 2026.
The actions followed the implementation of the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations), which establish mandatory operational standards for all digital lenders in the country.
Speaking on the enforcement rollout, FCCPC Executive Vice Chairman and CEO Tunji Bello said the measures are aimed at promoting order, transparency, and consumer confidence in Nigeria’s rapidly growing 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.
”The objective is to promote discipline and consumer confidence, not to disrupt legitimate business activity, ” Bello said.
As part of the enforcement framework, operators that failed to complete the required regularisation process during the transitional period have had their conditionally approved status withdrawn.
These lenders have also been removed from the FCCPC’s published register of approved digital lenders until they fully comply with regulatory standards.
Bello emphasised the importance of the Commission’s register for public guidance.
“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.
In addition to targeting non-compliant lenders, the FCCPC has begun structured engagement with application hosting platforms and payment service providers to strengthen monitoring and compliance across the sector.
For lenders provisionally designated as eligible under transitional arrangements, the Commission has set April 2026 as the final deadline to complete their registration under the DEON Regulations.
Bello warned that operators who fail to regularise their status by that time may face further regulatory measures under the law.
“The enforcement exercise is designed to protect compliant operators from unfair competition and shield consumers from abusive, deceptive, or unlawful lending practices,” he added.
The FCCPC reaffirmed its commitment to transparent regulation, fair competition, and effective consumer protection, highlighting the importance of consistent enforcement in maintaining a predictable regulatory environment for both businesses and consumers in Nigeria’s digital economy.
