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.
Plus234Feed summary based on reporting from This Day. Read the original report below.
Read full article
Continue on This Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Borrowers Get More Protection As FG Announces New Rules for Loan Apps, Telcos, Retailers
FCCPC Recovers N10 Billion for Nigerian Consumers in Banking and Fintech Sectors
FCCPC Data Reveals Compliance Challenges in Nigeria's FMCG Sector
FCCPC Recovers N10bn for Nigerian Consumers in 6 Months, Calls for Stronger Regulation
FCCPC Recovers N10bn for Consumers, Resolving Grievances Across Sectors
FG probes financial institutions flouting data protection
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
