The Federal Competition and Consumer Protection Commission (FCCPC) has started enforcing regulations against digital money lenders that failed to comply with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
Digital lenders had until January 5, 2026, to regularise their operations. Now, the Commission has begun active enforcement.
Tunji Bello, FCCPC’s Executive Vice Chairman and CEO, said the measures ensure regulatory certainty and protect consumers.
The Commission revoked conditional approvals for lenders that failed to meet the requirements. These operators have been removed from the FCCPC’s register of approved digital lenders.
Bello warned the public to exercise caution when dealing with lenders not listed on the approved register.
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FCCPC has started structured engagements with application hosting platforms and payment service providers.
The Commission will take further action against operators who ignore the law.
Operators provisionally eligible under transitional arrangements must complete registration by April 2026. Those who fail to comply risk additional sanctions.
Protecting Consumers and Market Discipline
The FCCPC aims to strengthen market discipline, protect compliant operators, and shield consumers from deceptive, abusive, or unlawful practices.
The Commission reaffirmed its commitment to transparent regulation, fair competition, and effective consumer protection in Nigeria’s growing digital economy.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
