The Federal Competition and Consumer Protection Commission has commenced a phased implementation of enforcement measures against Digital Money Lending operators that failed to regularise their status under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, known as the DEON Regulations.
The Commission said the compliance deadline for affected digital lenders expired on Monday, 5 January 2026, marking the end of the transitional window earlier provided to operators in the sector.
Speaking on the commencement of enforcement, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, said the measures were necessary to give full effect to the Regulations and to maintain regulatory certainty in Nigeria’s digital lending market, in line with the Commission’s statutory mandate.
“The compliance window provided under the Regulations has now closed. At this stage, the Commission is proceeding with appropriate enforcement steps in a manner that is fair, orderly, and consistent with due process,” Bello said. “The objective is to promote discipline, transparency, and consumer confidence within the digital lending space, not to disrupt legitimate business activity.”
As part of the approved enforcement framework, the FCCPC has withdrawn the conditionally approved status previously granted to certain Digital Money Lending operators that failed to complete the required regularisation process within the transitional period.
As a result, the affected operators have been removed from the Commission’s published register of approved digital lenders, pending their compliance with applicable regulatory requirements under the law.
Bello explained that the FCCPC’s published register serves as an important consumer information tool designed to guide members of the public on digital lenders that have met regulatory requirements at the time of publication.
“The FCCPC’s register is intended to guide the public on operators that have met the applicable regulatory requirements as at the time of publication. Consumers are advised to exercise caution when dealing with digital lenders that do not appear on the Commission’s current list of approved operators,” he said.
The Commission also disclosed that it has commenced structured engagement with relevant application hosting platforms and payment service providers as part of ongoing enforcement and compliance monitoring activities, in line with its statutory functions.
For operators provisionally designated as eligible under transitional arrangements, the FCCPC has issued a fresh deadline of April 2026 to regularise their registration under the DEON Regulations.
“This window is provided to enable affected operators to take steps towards compliance. Operators that choose not to regularise their status within this period may be subject to further regulatory measures, as provided under the law,” Bello stated.
The Commission stressed that the enforcement process is intended to support market discipline, protect compliant operators from unfair competitive practices, and safeguard consumers from abusive or unlawful conduct. It said the measures align with its mandate under law.
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