Following its deadline on January 5, 2026, the Federal Competition and Consumer Protection Commission (FCCPC) has started acting against digital money lenders that failed to regularise their operations.

The commission said the enforcement has now started under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, following the end of a transition period granted to loan app operators.
As part of the process, the Commission has begun removing non-compliant lenders from its list of approved digital money lending operators, effectively withdrawing the conditional approvals under which some firms had continued to operate.

The FCCPC’s executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the Commission was compelled to act now that the compliance window had closed.
“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,” Bello said.

He said the intention was not to disrupt legitimate businesses, but to impose order on a sector that has expanded rapidly, often faster than regulation.

“The objective is to promote discipline, transparency, and consumer confidence within the digital lending space, not to disrupt legitimate business activity,” he said.

Bello said the FCCPC’s register of approved digital lenders was designed to help consumers make informed choices, especially as loan apps have become a common source of short-term credit.

“The FCCPC’s register is intended to guide the public on operators that have met the applicable regulatory requirements as of the time of publication,” he said, urging borrowers to be cautious when dealing with lenders that do not appear on the list.

The Commission said the enforcement goes beyond delisting operators. It has also begun engaging application hosting platforms and payment service providers as part of wider compliance monitoring efforts. It said further regulatory steps will follow in line with established legal procedures.

Some digital lenders operating under provisional arrangements have been given until April 2026 to complete their registration under the regulations. Bello warned that operators who fail to regularize their status within that period could face additional regulatory action.

The FCCPC said the enforcement drive is intended to protect consumers from abusive, deceptive, or unlawful lending practices, while ensuring that compliant operators are not undercut by unregulated competitors.
“Effective regulation depends on consistent application,” Bello said. “Compliant businesses deserve a predictable regulatory environment, and consumers are entitled to protection under the law.”

The Commission reaffirmed its commitment to fair competition and consumer protection as Nigeria’s digital economy continues to grow.