The Federal Competition and Consumer Protection Commission (FCCPC) has announced January 5, 2026, as the deadline for all digital lending platforms and intermediaries in Nigeria to fully comply with the newly introduced Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.

The directive, issued on Thursday by the Commission’s Director of Corporate Affairs, Ondaje Ijagwu, is part of the Federal Government’s broader effort to curb unethical practices in the fast-growing digital lending industry and strengthen consumer protection.

According to the statement, the new regulations which took effect on July 21, 2025 are designed to promote fairness, transparency, and accountability within Nigeria’s lending ecosystem.

To support implementation, the FCCPC has also released a set of Guidelines under Sections 17 and 163 of the Federal Competition and Consumer Protection Act (FCCPA) 2018, providing practical direction for lenders and intermediaries on compliance procedures, documentation requirements, and updated application forms.

The Commission noted that operators with pending registration submissions are permitted to provide additional details required under the new framework without waiting for formal requests.

Speaking on the development, the Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, underscored the importance of adhering to the compliance deadline.

“Full compliance is not only a legal requirement but an important step in protecting consumers and ensuring that the sector continues to grow fairly and responsibly,” 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.”

Under the new rules, all lending platforms, intermediaries, and service partners must meet stipulated obligations by January 5, 2026. Enforcement actions including operational restrictions, suspensions, or prosecution will begin immediately after the deadline for defaulters.

Copies of the guidelines, required forms, and FAQs are available on the Commission’s official website and through its zonal offices nationwide.

Nigeria’s digital lending industry has grown rapidly in recent years, fuelled by the rise of mobile technology and the country’s large unbanked population. However, the boom has also given rise to predatory lending practices, including privacy violations, public shaming of debtors, and the use of threats to recover loans.

The FCCPC, working with the Central Bank of Nigeria (CBN), the National Information Technology Development Agency (NITDA), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), launched a joint task force in 2022 to clean up the sector.

As of November 2025, the Commission has approved 438 licensed digital lending companies, representing a major step toward formalising Nigeria’s online lending market and protecting consumers from exploitative operators.