The Federal Competitors and Client Safety Fee (FCCPC) has began enforcement towards digital cash lenders that missed the deadline to regularise below the 2025 Digital Lending Guidelines
The fee disclosed this in a press release shared on its official X web page.
The compliance deadline for affected operators was Monday, January 5, 2026.
What they mentioned
FCCPC Government Vice Chairman and CEO, Tunji Bello, defined that the actions are geared toward selling self-discipline, transparency, and client confidence throughout the sector.
“The compliance window offered below the Rules has now closed. At this stage, the Fee is continuing with acceptable enforcement steps in a fashion that’s honest, orderly, and in step with due course of.
The goal is to advertise self-discipline, transparency, and client confidence throughout the digital lending area, to not disrupt authentic enterprise exercise,” Bello mentioned.
The Fee has additionally withdrawn the conditionally accredited standing beforehand granted to DML operators that didn’t full the regularisation course of throughout the transitional interval, eradicating them from the FCCPC’s revealed register of accredited digital lenders.
Bello pressured that the register is a vital client information and suggested warning when coping with lenders not listed on it.
The regulator has additionally begun structured engagement with utility internet hosting platforms and cost service suppliers as a part of ongoing monitoring and enforcement actions.
Compliance deadline
Operators provisionally designated as eligible below transitional preparations have been given a brand new deadline of April 2026 to finish their registration below the DEON Rules.
“This window is offered to allow affected operators to take steps in the direction of compliance. Operators that select to not regularise their standing inside this era could also be topic to additional regulatory measures, as offered below the legislation,” Mr. Bello acknowledged.
Bello additionally famous the significance of the FCCPC’s register as a information for customers, urging the general public to train warning when coping with lenders not listed on the present register.
Backstory
In response to complaints about excessive rates of interest, aggressive collections, and unethical practices by unregulated lenders, Nigeria strengthened the regulation of digital lending in 2025.
The FCCPC launched the DEON Rules on July 21, 2025, which required all digital lenders, together with mortgage apps and on-line credit score suppliers, to register with the FCCPC and meet clear requirements on client safety, knowledge privateness, moral mortgage phrases, and accountable lending.
Operators have been initially given a 90‑day compliance window, with sanctions for non‑compliance that embody fines of up to N100 million or 1% of turnover, and potential disqualification of administrators; and different enforcement actions resembling suspension or revocation of approval.
In line with the FCCPC’s knowledge, registered digital lenders grew to 521 by early January 2026, with the bulk receiving full approval, whereas some remained conditionally accredited as of that date. In the meantime, greater than 100 unregistered mortgage apps stayed on the Fee’s watchlist for potential enforcement motion.
What you need to know
The Nigeria Information Safety Fee (NDPC) disclosed it was investigating over 400 instances of privateness breaches by mortgage apps, together with unauthorized entry to contacts, pictures, and messages.
Regardless of an April 2023 coverage by Google proscribing app entry to consumer knowledge, many lenders proceed to function in violation of privateness requirements.
Client advocacy teams, have documented a whole bunch of complaints towards unlicensed digital lenders utilizing harassment, defamation, and cyberbullying to gather money owed. Investigations recognized not less than 30 firms participating in these unethical practices.
The FCCPC has responded by tightening regulatory oversight, now requiring digital lenders to acquire knowledge safety clearance from the NDPC earlier than working. Earlier interventions, together with the Restricted Interim Regulatory/Registration Framework for Digital Lending (2022), diminished harassment instances by about 80%, however challenges persist, prompting the introduction of the DEON Rules in 2025 to formalize compliance and implement client safety.
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