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FCCPC enforcement targets digital lenders that failed to meet Nigeria’s new lending regulations, raising compliance and consumer protection concerns.

The Federal Competition and Consumer Protection Commission (FCCPC) has begun a phased enforcement process against digital money lending operators that failed to comply with Nigeria’s new lending regulations.

The action follows the expiration of a compliance deadline set under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, also known as the DEON Regulations.

In a statement issued on Wednesday, FCCPC spokesperson Ondaje Ijagwu confirmed that enforcement is now focused on digital lenders that did not regularise their operations before the January 5, 2026 deadline.

According to the Commission, the compliance window allowed operators enough time to meet regulatory requirements before enforcement measures were activated.

FCCPC Explains Reason for Enforcement

Speaking on the development, FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the move was necessary to strengthen regulation and maintain order in Nigeria’s digital lending space.

He noted that the enforcement drive is designed to ensure certainty in the market while aligning with the Commission’s legal mandate.

“The compliance window provided under the regulations has now closed. The Commission is proceeding with enforcement steps that are fair, orderly, and guided by due process,” Bello said.

As part of the enforcement framework, the FCCPC has withdrawn the conditional approval earlier granted to digital lenders that failed to complete their registration within the transition period.

These operators have also been removed from the Commission’s official register of approved digital lenders until they meet all regulatory requirements.

Bello explained that the register serves as a key consumer protection tool.

FCCPC Warns Consumers to Be Cautious

The FCCPC advised members of the public to verify the status of digital lenders before engaging their services.

“The register guides consumers on lenders that have met regulatory standards. Users should be cautious when dealing with operators not listed on the Commission’s current register,” Bello said.

The Commission has also begun structured engagements with app hosting platforms and payment service providers as part of its enforcement and compliance monitoring efforts.

Further regulatory actions, the FCCPC said, will be taken in line with the law and established procedures.

For digital lenders granted provisional status under transitional arrangements, the FCCPC 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 within this period may face additional regulatory measures.

FCCPC Reaffirms Consumer Protection Goal

The Commission stressed that the enforcement process is aimed at promoting transparency, market discipline, and consumer confidence in Nigeria’s digital lending sector.

According to the FCCPC, consistent regulation protects compliant businesses from unfair competition while shielding consumers from abusive or unlawful practices.