The Federal Competition and Consumer Protection Commission (FCCPC) has ordered all digital lending operators in Nigeria to be fully compliant with the Digital, Electronic, Online and Non‑Traditional Consumer Lending Regulations, 2025 by Monday, January 5, 2026.
The regulations, which came into force on July 21, 2025, are backed by the Federal Competition and Consumer Protection Act (FCCPA) of 2018 and aim to inject fairness, transparency, and accountability into the fast‑growing digital credit market.
In a statement on Thursday, FCCPC Executive Vice‑Chairman Tunji Bello warned that the new rules are not optional.
“Full compliance is both a legal requirement and a crucial step toward protecting consumers and keeping the sector growing responsibly,” he said, adding that operators have had ample time to adjust.
The commission will keep processing pending applications transparently so no firm faces undue delay.
To ensure a smooth transition, the FCCPC released a set of Guidelines on the Digital, Electronic, Online and Non‑Traditional Consumer Lending Regulations, 2025, built under Sections 17 and 163 of the FCCPA.
These guidelines detail documentation, updated Forms 1 and 3, and allow lenders with pending submissions to furnish extra information without waiting for a formal request.
The guidelines, FAQs, and forms are all posted on the official website, with support available through nationwide offices and listed communication channels.
The regulator made it clear that enforcement kicks in right after the deadline. Entities that fail to comply risk operational restrictions, orders to halt partnerships, and other legal sanctions.
The warning follows years of consumer complaints about data breaches, unauthorized deductions, and aggressive debt‑recovery tactics in the digital lending space.
Nigeria’s digital lending market has exploded in recent years, with formally approved lenders jumping from 320 in the previous year to 425 by May 2025.
While this boom has expanded financial inclusion, it has also exposed borrowers to high rates and weak credit controls, prompting the FCCPC’s crackdown.
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