FCCPC Sets January 5 Deadline for Digital Lenders to Achieve Full Compliance

The Federal Competition and Consumer Protection Commission (FCCPC) has ordered all operators in Nigeria’s digital lending sector to comply fully with the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025 by Monday, January 5, 2026.

The regulations, which came into effect on July 21, 2025, under the Federal Competition and Consumer Protection Act (FCCPA) 2018, are designed to ensure transparency, fairness, and accountability across the country’s rapidly growing digital lending industry.

To help lenders meet the requirements, the FCCPC released supplementary guidelines, outlining detailed instructions, required documentation, and updated Forms 1 and 3, which were developed based on feedback from stakeholders. Operators with pending applications can now submit additional information proactively without waiting for formal requests, as application processing continues in a transparent manner.

FCCPC Executive Vice Chairman Tunji Bello stressed the significance of adhering to the compliance deadline.

“Full compliance is not only a legal requirement but an essential step to protect consumers and ensure the sector grows responsibly. Operators have had sufficient time to adjust to the regulations, and we expect all obligations to be met by the deadline,” Bello said.

The commission warned that enforcement actions would begin immediately after January 5, including restrictions on non-compliant entities, directives to partners to cease business with them, and other legal sanctions. The directive applies to all lending platforms, intermediaries, and service partners operating in Nigeria’s digital lending ecosystem.