FCCPC Introduces Regulations to Regulate Digital Lending in Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC) has introduced the Digital Electronic Online Consumer Lending Regulations 2025 to regulate online and digital lending practices in Nigeria. The regulations, aimed at safeguarding consumers, address issues like exploitative practices, data privacy violations, and abusive loan recovery tactics by digital lenders.

The framework mandates transparency, fairness, responsible conduct, and data privacy protection in the rapidly expanding digital credit market. With a focus on consumer protection and oversight, these regulations set a crucial precedent for regulating the evolving digital lending sector in Nigeria.

The FCCPC's move is a significant step towards curbing abuses and ensuring a more secure and consumer-friendly digital lending environment.