FCCPC Sets Deadline for Nigerian Lending Apps to Comply With New Rules

The FCCPC has given a deadline of January 5, 2026, for lending apps like FairMoney, Okash, and Carbon to fully comply with new rules introduced under the Federal Competition and Consumer Protection Act 2018. The move is seen as a significant step towards regulating Nigeria's digital lending ecosystem, which has faced criticism for privacy breaches and predatory lending practices.

Failure to comply by the deadline may result in enforcement actions, penalties, and even prosecution. The FCCPC emphasizes transparency and urges strict compliance to protect Nigerian borrowers.