By Nkechi Eze
The Federal Competition and Consumer Protection Commission (FCCPC) has announced January 5, 2026, as the deadline for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, signaling a decisive move to strengthen fairness, transparency, and accountability in Nigeria’s fast-growing digital lending sector.
In an official statement signed by the Director of Corporate Affairs, Ondaje Ijagwu, the Commission disclosed that the Regulations, which came into effect on July 21, 2025, were issued under the Federal Competition and Consumer Protection Act (FCCPA) 2018. The framework is designed to ensure that lending practices meet global standards of consumer protection and ethical finance.
To facilitate smooth compliance, the Commission has also introduced a supplementary document titled Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, made pursuant to Sections 17 and 163 of the FCCPA. The Guidelines provide practical directions for lenders and intermediaries, outline documentation requirements, and include revised Forms 1 and 3 reflecting feedback from industry stakeholders.
According to the FCCPC, operators with pending submissions are encouraged to provide any additional information required under the new Guidelines without waiting for formal requests. The Commission assured stakeholders that it would continue to process applications efficiently and maintain a transparent review system throughout the compliance period.
Speaking on the development, the Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, emphasized the importance of the January 5 deadline, describing it as a critical step toward consumer protection and the sustainable growth of the financial technology ecosystem.
“Full compliance is not only a legal requirement but an important step in protecting consumers and ensuring that the sector continues to grow in a fair and responsible manner,” Bello said. “Operators have had ample time to adjust to the Regulations and the additional guidance now provided. We expect all obligations to be met before the deadline.”
The FCCPC noted that enforcement actions would commence immediately after the deadline. Sanctions may include restricting non-compliant entities from operating, directing digital platforms and service partners to cease dealings with them, and applying other penalties permitted under the law.
Copies of the Guidelines, revised forms, and Frequently Asked Questions (FAQs) are available on the Commission’s official website www.fccpc.gov.ng and at its offices nationwide.
The FCCPC reaffirmed its commitment to promoting responsible digital lending practices that safeguard consumers while supporting innovation, trust, and growth within Nigeria’s financial technology space.
