Nigeria’s Federal Competition and Consumer Protection Commission has begun enforcement actions against digital money lenders that failed to meet the January 5, 2026, deadline to regularise their operations under the 2025 Digital Lending Rules.
The commission announced the move in a statement shared on its official X account, noting that the compliance window for affected operators has now closed.
FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the enforcement actions are intended to promote transparency, discipline, and consumer confidence in the digital lending sector, while ensuring due process.
The commission has withdrawn the conditional approval status previously granted to lenders that did not complete the regularisation process within the transitional period and has removed them from its public register of approved digital lenders. Bello said the register serves as an important consumer guide and advised Nigerians to exercise caution when dealing with lenders not listed.
The FCCPC has also begun structured engagement with application hosting platforms and payment service providers as part of broader monitoring and enforcement efforts.
Operators that were provisionally designated as eligible under transitional arrangements have been given a new deadline of April 2026 to complete their registration under the Digital Economy Operations Network regulations. Bello said lenders that fail to regularise within this period may face further regulatory measures.
Nigeria strengthened oversight of digital lending in 2025 following widespread complaints of excessive interest rates, harassment, privacy violations, and unethical debt recovery practices. The DEON Regulations, introduced in July 2025, require all digital lenders to register with the FCCPC and comply with consumer protection, data privacy, and responsible lending standards.
As of early January 2026, the FCCPC said 521 digital lenders were registered, with most receiving full approval. More than 100 unregistered loan apps remain on the commission’s watchlist for potential enforcement action.
The Nigeria Data Protection Commission has also disclosed investigations into hundreds of alleged privacy breaches by loan apps, while consumer groups continue to document cases of harassment and cyberbullying linked to unlicensed lenders.
