…Warns Non-Compliant Operators of Immediate Enforcement Actions
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The Federal Competition and Consumer Protection Commission (FCCPC) has set Monday, January 5, 2026, as the final deadline for all operators in Nigeria’s digital lending sector to fully comply with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
The Commission announced this in a statement issued on Thursday by its Director of Corporate Affairs, Ondaje Ijagwu, noting that the regulations, which took effect on July 21, 2025, under the Federal Competition and Consumer Protection Act (FCCPA) 2018, were designed to promote fairness, transparency, and accountability across the fast-expanding digital lending industry.
To support operators’ compliance efforts, the FCCPC also introduced an additional instrument — the Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
Made pursuant to Sections 17 and 163 of the FCCPA, the new Guidelines provide detailed instructions for lenders and intermediaries, specify documentation requirements, and introduce updated Forms 1 and 3 developed from extensive stakeholder feedback.
According to the Commission, applicants with pending submissions may now provide additional information required under the new Guidelines without waiting for a formal request. It assured that application processing would continue transparently and efficiently.
Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, stressed the importance of meeting the compliance deadline.
“Full compliance is not only a legal requirement but an important step in protecting consumers and ensuring that the sector continues to grow in a fair and responsible manner,” Bello stated.
He added, “Operators have had ample time to adjust to the Regulations and the additional guidance now provided. We expect all obligations to be met before the deadline.”
The Commission emphasised that all affected entities — including lending platforms, service providers, and intermediaries — must complete their compliance processes by January 5, 2026.
It warned that enforcement actions would begin immediately after the deadline, including restricting non-compliant entities from operating, directing partners or platforms to cease engagement with them, and imposing other sanctions as permitted under the law.
The FCCPC further disclosed that copies of the Guidelines, relevant forms, and Frequently Asked Questions (FAQs) are available on its official website, www.fccpc.gov.ng, and can also be accessed at its offices nationwide or through designated communication channels.
Reaffirming its commitment to responsible digital lending, the Commission stated that the new measures aim to protect consumers while strengthening confidence in Nigeria’s rapidly evolving financial technology ecosystem.
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