By Peter Adelowo
The Federal Competition and Consumer Protection Commission, FCCPC, has commenced enforcement actions against Digital Money Lending operators that failed to complete mandatory registration under the new regulatory framework.
In a statement issued in Abuja, the Director of Corporate Affairs of the Commission, Mr. Ondaje Ijagwu, announced that affected operators have been removed from the FCCPC’s official register of approved digital lenders, following the expiration of the regularisation deadline on January 5.
The action is in line with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, also known as the DEON Regulations.
Quoting the Executive Vice Chairman of the Commission, Mr. Tunji Bello, the FCCPC explained that the enforcement is aimed at strengthening discipline, transparency, and consumer confidence within Nigeria’s digital lending space, while ensuring regulatory certainty for legitimate operators.
Mr. Bello stressed that the Commission is acting fairly and in accordance with due process, noting that the compliance window has officially closed and that conditional approvals previously granted to non-compliant lenders have now been withdrawn.
He advised members of the public to verify lenders against the FCCPC’s published register before engaging with any digital loan platform, describing the register as a key consumer protection tool.
The FCCPC also disclosed that it has begun engagement with app hosting platforms and payment service providers as part of broader enforcement and compliance monitoring efforts.
Meanwhile, operators granted provisional status under transitional arrangements have been given until April 2026 to fully regularise their registration under the DEON Regulations.
The Commission reaffirmed its commitment to transparent regulation, fair competition, and strong consumer protection across Nigeria’s digital economy.
