The Federal Competition and Consumer Protection Commission (FCCPC) has fixed January 5, 2026, as the final deadline for all digital lending platforms and intermediaries operating in Nigeria to fully comply with its new consumer lending regulations.
The directive, announced in a statement by the Commission’s Director of Corporate Affairs, Ondaje Ijagwu, represents a major step in the Federal Government’s efforts to sanitize the fast-growing but controversial digital lending sector.
According to the statement, the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, which took effect on July 21, 2025, are anchored on the Federal Competition and Consumer Protection Act (FCCPA) 2018. The rules aim to enhance fairness, transparency, and accountability across the lending ecosystem.
To aid compliance, the Commission also released Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, issued under Sections 17 and 163 of the FCCPA. These guidelines provide practical direction for lenders, outline documentation requirements, and introduce updated forms based on stakeholder feedback.
“The Federal Competition and Consumer Protection Commission has set Monday, 5 January 2026, as the deadline for full compliance with the new lending regulations,” the statement read. “The regulations aim to promote fairness, transparency, and accountability across Nigeria’s growing digital lending market.”
Commenting on the development, the Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, emphasized the need for all operators to meet the compliance timeline.
“Full compliance is not only a legal requirement but a vital step in protecting consumers and ensuring that the sector grows fairly and responsibly,” Bello said. “Operators have had ample time to adjust to the new regulations and the additional guidance now provided. We expect all obligations to be met before the deadline.”
Under the new framework, all lending platforms, service partners, and intermediaries must meet the stipulated compliance obligations before January 5, 2026. The FCCPC warned that enforcement actions would begin immediately after the deadline, including operational restrictions, suspension of non-compliant entities, and possible prosecution.
The Commission also noted that copies of the guidelines, required forms, and frequently asked questions are available on its official website and at its nationwide offices.
Nigeria’s digital lending industry has witnessed explosive growth, driven by widespread smartphone adoption and financial inclusion efforts. However, the sector has been plagued by unethical practices, including exorbitant interest rates, privacy breaches, and harassment of borrowers.
In response, the FCCPC, working with the Central Bank of Nigeria, the National Information Technology Development Agency (NITDA), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), launched a joint task force in 2022 to clamp down on rogue operators.
That initiative led to the introduction of an interim registration framework and now culminates in the 2025 Regulations, designed to permanently sanitize the industry.
As of November 2025, a total of 438 digital lending companies have been fully approved by the FCCPC — a sharp rise that reflects growing compliance and government oversight in Nigeria’s evolving financial technology landscape.
