FCCPC Cracks Down on Unregulated Digital Money Lenders in Nigeria
The Federal Competition and Consumer Protection Commission (FCCPC) in Nigeria has begun enforcing sanctions on digital money lenders who have not regularized their operations in line with the Digital Electronic Online Non-Traditional Consumer Lending Regulations 2025. The move aims to restore confidence in Nigeria's rapidly growing digital lending market.
The FCCPC is implementing enforcement measures to ensure regulatory certainty and protect consumers from abusive practices. Failure to comply with the regulations by the January 5, 2026 deadline will result in appropriate enforcement actions.
The FCCPC emphasizes the importance of consumer caution when dealing with digital lenders.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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