The Federal Competition and Consumer Protection Commission (FCCPC) has commenced the removal of defaulting digital lending operators from its official register, as part of efforts to enforce compliance within Nigeria’s fast-growing digital credit market.
The Commission said the affected firms are Digital Money Lending (DML) operators that failed to regularise their operations in line with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
In a statement issued on Wednesday and signed by the FCCPC’s Executive Vice Chairman and Chief Executive Officer, Tunji Bello, the Commission confirmed that the conditional approvals previously granted to some digital lenders have been withdrawn following the expiration of the compliance window.
The FCCPC had earlier set January 5, 2026, as the final deadline for digital lenders to meet the regulatory requirements. According to Bello, operators that did not complete the regularisation process within the transitional period are now subject to enforcement actions.
He explained that the measures were necessary to uphold regulatory standards and ensure stability and clarity in the digital lending ecosystem.
“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 added that the Commission’s primary objective is to encourage discipline, transparency and consumer trust in the digital lending sector, rather than to disrupt legitimate business operations.
As part of the enforcement process, the FCCPC disclosed that it has begun structured engagements with application hosting platforms and payment service providers to strengthen compliance monitoring and implementation. The Commission noted that further regulatory actions will be taken where necessary, in line with existing laws.
For operators that were provisionally recognised under transitional arrangements, the FCCPC announced a fresh deadline of April 2026 to complete their registration under the DEON Regulations.
Bello said the extended timeline is intended to give affected companies an opportunity to fully regularise their operations. However, he warned that firms that fail to comply within the new window risk additional regulatory sanctions.
He also emphasised the role of the FCCPC’s register as a key consumer protection tool, noting that it serves as a reference for identifying digital lenders that have met regulatory requirements at the time of publication.
The Commission advised members of the public to be cautious when engaging with digital lending platforms that do not appear on the FCCPC’s current list of approved operators, stressing that compliance with the regulations is essential for safeguarding consumer rights.
