Digital Len
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 did not regularise their status in accordance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
The deadline was Monday, 5 January 2026.
Speaking on the commencement of enforcement measures, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, stated 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.
“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,”Mr. Bello said.
As part of the approved enforcement framework, the Commission has withdrawn the conditionally approved status previously granted to certain DML operators that did not complete the required regularisation process within the transitional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.
Consequently, such operators have been removed from the FCCPC’s published register of approved digital lenders, pending compliance with applicable regulatory requirements.
Mr. Bello 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.
