The Federal Competition and Consumer Protection Commission (FCCPC) has commenced a phased implementation of enforcement measures in respect of Digital Money Lending (DML) operators that failed to regularise their status in accordance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025
Ondaje Ijagwu,Director, Corporate Affairs, FCCPC, who conveyed this in a statement on Thursday, said the deadline was Monday, 5 January 2026.
The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, explained that the actions were necessary to give effect to the regulations and to maintain regulatory certainty in Nigeria’s digital lending market, in line with the Commission’s statutory mandate.
He said:“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, 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As part of the approved enforcement framework, the Commission has withdrawn the conditionally approved status previously granted to certain DML operators that did not complete the required regularisation process within the transitional period.
He said such operators have been removed from the FCCPC’s published register of approved digital lenders, pending compliance with applicable regulatory requirements.
He noted that the Commission’s published register serves as an important consumer information tool.
“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 Commission has also commenced structured engagement with relevant application hosting platforms and payment service providers, consistent with its statutory functions, as part of ongoing enforcement and compliance monitoring activities.
“Further regulatory steps will be undertaken in accordance with law and established procedures.
“For those provisionally designated as eligible under transitional arrangements, the Commission has issued a deadline of April 2026 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,” Mr. Bello stated.
