The Federal Competition and Consumer Protection Commission (FCCPC) has directed all digital lending operators in Nigeria to comply with the new Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025 by January 5, 2026.
The regulation, effective since July 21, 2025, was established under the Federal Competition and Consumer Protection Act (FCCPA) 2018 to enhance fairness, transparency, and accountability in the country’s growing digital lending industry.
The move reinforces the FCCPC’s commitment to cleaning up the sector following persistent reports of unethical conduct, including data misuse, unauthorised deductions, and borrower harassment by online lenders.
To assist operators, the Commission issued Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, providing detailed documentation requirements and revised Forms 1 and 3. The FCCPC said the updates followed feedback from stakeholders and are meant to simplify ongoing and new compliance processes.
FCCPC Executive Vice Chairman, Mr. Tunji Bello, stressed that full adherence is both a legal duty and a consumer protection measure. He noted that operators had been given adequate time to adjust to the new rules and must complete all obligations before the deadline.
Bello added that the Commission would continue to process pending applications transparently to ensure that no operator faces unnecessary delays.
Enforcement will begin immediately after the January 5, 2026 deadline. Any non-compliant digital lender may face operational restrictions, while their partners or host platforms could be directed to suspend collaborations. Additional penalties permitted under law may also apply.
The FCCPC confirmed that all Guidelines, Forms, and FAQs are accessible on its official website, fccpc.gov.ng, and through its offices nationwide.
Nigeria’s digital lending market has seen rapid expansion, with formally approved operators rising from 320 in 2024 to 425 by May 2025, according to Nairametrics. The Commission said the new framework aims to sustain that growth responsibly by protecting both lenders and consumers.
