By Muhammad Mamman
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a 5 January 2026 deadline for all digital lending platforms operating in Nigeria to fully comply with its regulatory framework or risk enforcement action.
In a statement released on Tuesday, the Commission said the directive is part of its continued efforts to sanitise the digital lending space, protect consumers from unethical practices, and ensure fair market conduct.
The FCCPC noted that only lending companies that have completed registration under its Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending will be permitted to operate beyond the deadline.
“The Commission will not hesitate to take decisive action against any digital money lender that fails to meet the compliance requirements by 5 January,” the statement read.
According to the FCCPC, the move follows increasing reports of privacy violations, unethical debt recovery methods, and other predatory lending practices by some operators. The Commission reaffirmed its commitment to ensuring transparency, data protection, and responsible lending across the sector.
It further advised consumers to verify the registration status of any digital lender on the FCCPC’s website before engaging their services.
The Commission also disclosed that it is collaborating with relevant agencies, including the Central Bank of Nigeria (CBN), the National Information Technology Development Agency (NITDA), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), to enforce compliance and protect borrowers from exploitation.
Industry observers have welcomed the move, describing it as a step towards restoring trust and stability in Nigeria’s fast-growing digital lending ecosystem.
