The Federal Competition and Consumer Protection Commission (FCCPC) has begun enforcing sanctions against digital money lending (DML) operators that failed to regularise their operations under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
Announcing the move, Mr. Tunji Bello, FCCPC Executive Vice Chairman and Chief Executive Officer, said the phased enforcement was necessary to uphold regulatory certainty and protect Nigeria’s fast-growing digital lending market.
According to Bello, the compliance window provided under the regulations has officially closed, prompting the Commission to activate enforcement measures in line with its statutory mandate.
“The compliance window 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,” he said. “Our objective is to promote discipline, transparency, and consumer confidence in the digital lending space, not to disrupt legitimate businesses.”
As part of the enforcement framework, the FCCPC has withdrawn the conditional approvals previously granted to DML operators that failed to complete the required regularisation process within the transitional period. These operators have also been removed from the Commission’s official register of approved digital lenders, pending full compliance.
Bello noted that the FCCPC’s register is a critical consumer protection tool, urging the public to exercise caution when dealing with lenders not listed on the Commission’s approved platform.
“The register is designed to guide consumers to operators that have met regulatory requirements. Consumers are advised to be cautious when engaging digital lenders that do not appear on the current list of approved operators,” he said.
The Commission has also begun structured engagements with app hosting platforms and payment service providers as part of its broader compliance monitoring and enforcement strategy. Further regulatory actions, the FCCPC said, will follow established legal procedures.
For operators provisionally recognised under transitional arrangements, the FCCPC has set April 2026 as the final deadline to complete their registration under the DEON Regulations. Failure to comply by then may attract additional regulatory sanctions.
The FCCPC stressed that the enforcement drive is aimed at strengthening market discipline, protecting compliant operators from unfair competition, and shielding consumers from abusive or deceptive lending practices.
“Effective regulation requires consistency. Compliant businesses deserve a predictable regulatory environment, and consumers are entitled to protection under the law,” Bello added.
The Commission reaffirmed its commitment to transparent regulation, fair competition, and strong consumer protection across Nigeria’s digital economy.
