FCCPC Cracks Down on Non-Compliant Digital Lenders in Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC) in Nigeria has started enforcing actions against digital money lenders who have failed to comply with regulations by the January 5, 2026 deadline. The initiative, led by FCCPC's Director of Corporate Affairs Ondaj Ijagwu, seeks to restore regulatory certainty and consumer confidence in the digital lending sector.

Tunji Bello, the FCCPC's Executive Vice Chairman, emphasized the necessity of these actions to protect consumers from abusive lending practices. The commission has withdrawn approval for digital lenders that did not complete the regularization process, urging consumers to exercise caution when dealing with unregistered lenders.