The Federal Competition and Consumer Protection Commission (FCCPC) has commenced phased enforcement actions against Digital Money Lending (DML) operators that failed to regularize their operations under Nigeria’s new digital lending framework. This follows the expiration of the compliance deadline on 5 January 2026 and the implementation of the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations), which set mandatory standards for all digital lenders operating in Nigeria.

FCCPC Executive Vice Chairman and CEO, Mr. Tunji Bello, said the enforcement is necessary to give full effect to the Regulations and ensure order and certainty in the fast-growing digital lending market. He stressed that the compliance window has closed and that the Commission is proceeding in a fair, orderly, and consistent manner, with the aim of promoting discipline, transparency, and consumer confidence rather than disrupting legitimate businesses.

As part of the process, the FCCPC has withdrawn the conditional approval status previously granted to non-compliant DML operators and removed them from its official register of approved digital lenders, pending full regularization. The Commission noted that the register is a key consumer protection tool and advised Nigerians to be cautious when dealing with digital lenders not listed as approved operators.

The FCCPC has also begun structured engagements with app hosting platforms and payment service providers as part of ongoing compliance monitoring. DML operators provisionally eligible under transitional arrangements have been given a final deadline of April 2026 to complete registration under the DEON Regulations, after which further regulatory measures may apply. The Commission reiterated its commitment to protecting consumers, ensuring fair competition, and strengthening trust in Nigeria’s digital lending ecosystem.