The Federal Competition and Consumer Protection Commission (FCCPC) has set Monday, January 5, 2026, as the firm deadline for all digital lending platforms and their service partners operating in Nigeria to achieve full compliance with the newly introduced consumer protection regulations.
This move signals the official end of the commission’s accommodative period and the commencement of a stricter enforcement regime aimed at sanitizing the fast-growing digital credit market.
The directive, announced in a statement on Thursday, November 13, 2025, by the Commission’s Director of Corporate Affairs, Ondaje Ijagwu, follows the introduction of the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, which came into effect on July 21, 2025.
These comprehensive regulations, enacted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, were designed to address widespread consumer complaints concerning exploitative interest rates, data privacy breaches, and abusive loan recovery tactics that have plagued the industry.
To support operators in meeting the required standards, the FCCPC simultaneously released the “Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.” This supplementary instrument provides essential practical direction for lenders and intermediaries, clarifies documentation requirements, and introduces updated Forms 1 and 3 based on crucial feedback received from stakeholders since the regulations’ inception.
The commission indicated that applicants with pending submissions may now provide any additional information required under the new Guidelines without waiting for a formal request, assuring a prompt and transparent review process.
The Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, underscored the criticality of adhering to the fixed timeline. “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 stated. He further warned that enforcement actions will commence immediately after the January 5, 2026, deadline.
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The regulations impose stringent requirements on digital lenders, chief among them being mandatory registration and a complete overhaul of operational ethics. Lenders are now compelled to fully disclose all interest rates, repayment terms, and associated fees in “clear, legible, and simple English” before any transaction. Crucially, they must comply strictly with the Nigeria Data Protection Act 2023, with a clear prohibition on accessing customer call logs, contacts, and photos/galleries, which was a major source of consumer harassment.
Furthermore, any partnership, joint venture, or fee-sharing arrangement between a lender and a third-party service provider must be explicitly approved by the FCCPC, ensuring regulatory oversight across the entire lending value chain. For operators who fail to comply with the January 5, 2026, deadline, the risks are severe.
The FCCPA mandates a structured penalty regime that includes fines of up to ₦100 million or 1% of the preceding year’s turnover, whichever is higher, in addition to potential operational sanctions such as suspension of operations and delisting from registration. The commission has made it clear that the era of “experimentation” with digital lending regulation is over, and the sector will now be treated as a formalized part of the financial system.
