The Federal Competition and Consumer Protection Commission (FCCPC) has begun phased enforcement actions against Digital Money Lending (DML) operators that failed to regularise their operations under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
The compliance deadline for affected operators expired on January 5, 2026.Speaking on the development, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the enforcement became necessary to ensure regulatory certainty and protect consumers in Nigeria’s digital lending space.
He noted that the compliance window had closed and the Commission was now proceeding with enforcement in line with due process.
As part of the measures, the FCCPC has withdrawn conditional approvals previously granted to defaulting operators and removed them from its official register of approved digital lenders, pending full compliance.
Mr. Bello advised members of the public to exercise caution when dealing with lenders not listed on the Commission’s approved register.
The FCCPC has also commenced engagements with app hosting platforms and payment service providers as part of its compliance monitoring efforts, warning that further regulatory actions would follow where necessary.
For operators granted provisional eligibility under transitional arrangements, the Commission has set April 2026 as the final deadline to complete registration under the new regulations, stressing that failure to comply may attract additional sanctions.
The Commission reaffirmed that the enforcement exercise is aimed at strengthening market discipline, protecting compliant operators, and safeguarding consumers from abusive and unlawful practices, while promoting transparency and fair competition in Nigeria’s digital economy.
Reporting by Chioma Ezike