FCCPC Removes Non-Compliant Loan Apps from Approved Register, Advises Nigerians
- The FCCPC has begun enforcing the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025
- Digital lenders that failed to regularise their operations by January 5, 2026, have lost their conditional approval and are declared illegal
- The Commission says the enforcement is aimed at protecting consumers, ensuring fair competition, and strengthening market discipline
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The Federal Competition and Consumer Protection Commission (FCCPC) has begun enforcing new rules against digital money lenders that failed to regularise their operations under Nigeria’s updated digital lending regulations.
Source: Twitter
In a statement released on Wednesday, January 22, the Commission said the enforcement follows the expiration of the January 5, 2026, deadline set under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
According to the FCCPC, the move marks the start of a phased enforcement process aimed at strengthening compliance and restoring regulatory certainty in the digital lending market.
Compliant window is closed
Speaking on the development, the FCCPC’s Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the compliance window provided to operators had officially closed.
He explained that enforcement actions were being carried out in a fair and orderly manner, stressing that the Commission’s goal was to improve transparency and consumer confidence rather than disrupt legitimate businesses.
As part of the enforcement measures, the FCCPC has withdrawn the conditional approval earlier granted to some digital money lenders that failed to complete the required regularisation process during the transition period.
Unregistered operators removed from register
The affected operators have also been removed from the Commission’s official register of approved digital lenders until they meet the applicable regulatory requirements.
Mr. Bello noted that the FCCPC’s register is a key consumer protection tool, advising members of the public to be cautious when dealing with digital lenders that are not listed among approved operators.
He added that the Commission has begun structured engagements with application hosting platforms and payment service providers as part of broader compliance monitoring efforts, with additional regulatory steps to follow in line with the law.
Digital lenders with conditional approval get new deadline
For digital lenders provisionally classified as eligible under transitional arrangements, the FCCPC said they have until April 2026 to complete their registration under the DEON Regulations.
According to the Commission, operators that fail to regularise their status within this timeframe risk facing further regulatory actions.
The FCCPC emphasised that the enforcement exercise is designed to promote market discipline, protect compliant lenders from unfair competition, and shield consumers from abusive or unlawful lending practices.
The Commission also reaffirmed its commitment to transparent regulation, fair competition, and consumer protection within Nigeria’s expanding digital economy.
Source: Twitter
FCCPC moves to stop harassment by loan apps
Legit.ng earlier reported that the FCCPC had introduced new regulations to protect Nigerians from harassment and exploitative practices by digital lenders.
The rules, called the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, target problems such as high interest rates, misuse of personal data, aggressive debt recovery, harassment, and unhealthy competition in the lending sector.
The commission urged consumers to report unregistered or abusive lenders through its complaint portal.
Source: Legit.ng
