Okay News reports that the Federal Competition and Consumer Protection Commission has set Monday, January 5, 2026, as the deadline for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
The deadline applies to all digital lending operators, platforms, and intermediaries operating in Nigeria’s rapidly expanding fintech sector.
According to a press statement by the Commission’s Director of Corporate Affairs, Ondaje Ijagwu, “The Regulations came into effect on July 21, 2025 under the Federal Competition and Consumer Protection Act 2018. It aims to promote fairness, transparency, and accountability across Nigeria’s growing digital lending market.” The FCCPC is Nigeria’s federal agency responsible for consumer protection and competition regulation.
To support operators in meeting the required standards, the Commission has issued an additional instrument, the Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, made under Sections 17 and 163 of the FCCPA. This document provides practical direction for lenders and intermediaries, explains the documentation required, and introduces updated Forms 1 and 3 based on feedback received from stakeholders.
Applicants with pending submissions may provide any additional information required under the new guidelines without waiting for a formal request. The Commission will continue to process applications promptly and maintain a transparent review process, according to the statement.
The Executive Vice Chairman of the FCCPC, Mr Tunji Bello, stressed the importance of meeting this timeline. Bello, a former Lagos State Commissioner for Environment and Water Resources, assumed leadership of the commission in 2024 and has prioritized consumer protection in Nigeria’s digital economy.
He explained that “full compliance is not only a legal requirement but an important step in protecting consumers and ensuring that the sector continues to grow in a fair and responsible manner. Operators have had ample time to adjust to the Regulations and the additional guidance now provided. We expect all obligations to be met before the deadline.”
All affected operators, including lending platforms, service partners, and intermediaries, are expected to complete their compliance obligations by January 5, 2026. Digital lending platforms have proliferated in Nigeria in recent years, offering quick loans through mobile applications to millions of Nigerians without access to traditional banking services.
Enforcement will begin immediately after the deadline. Measures may include restricting non-compliant entities from operating, directing partners or platforms to cease dealing with them, and applying other sanctions permitted under the law. The commission has previously sanctioned several digital lenders for predatory practices and violations of consumer rights.
Copies of the Guidelines, Forms, and Frequently Asked Questions are available on the Commission’s website at www.fccpc.gov.ng, including through enquiries at FCCPC offices nationwide, or via other official channels provided on the website. The resources are designed to help operators understand and meet regulatory requirements before the deadline.
The FCCPC is committed to promoting responsible digital lending practices that protect consumers and support confidence in the financial technology sector. The regulations address widespread complaints from Nigerian consumers about harassment, excessive interest rates, unauthorized access to phone contacts, and other predatory practices by some digital lenders.
Nigeria’s digital lending sector has experienced explosive growth, particularly among young people and small business owners seeking quick access to credit. However, the lack of regulation led to numerous consumer complaints about unethical practices, prompting the FCCPC to introduce comprehensive regulations to govern the industry.
The Federal Competition and Consumer Protection Commission was established under the Federal Competition and Consumer Protection Act 2018, which consolidated previous consumer protection and competition laws in Nigeria. The agency has broad powers to investigate anti-competitive practices, protect consumer rights, and enforce compliance across various sectors of Nigeria’s economy.
