Digital Lending Compliance Deadline Set for January 5, 2026 – FCCPC Cracks Down on Non-Compliant Lenders
The Federal Competition and Consumer Protection Commission (FCCPC) has announced January 5, 2026, as the official deadline for all digital lending operators in Nigeria to comply with the newly issued Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025. The move aims to enforce fairness, transparency, and accountability in Nigeria’s fast-growing digital lending sector.
These regulations, which came into effect on July 21, 2025, were issued under the Federal Competition and Consumer Protection Act (FCCPA) 2018. They are designed to protect consumers while ensuring that digital lending platforms operate responsibly and adhere to standardized practices in a sector that has seen rapid expansion and innovation in recent years.
FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, confirmed that the Commission has also released complementary guidelines to help operators navigate compliance. The Guidelines provide step-by-step directions, specify documentation requirements, and introduce updated Forms 1 and 3, developed after extensive consultations with industry stakeholders. Applicants with pending submissions are encouraged to provide any additional information immediately, without waiting for a formal request.
Executive Vice Chairman Tunji Bello emphasized that full compliance is both a legal and moral responsibility. “Operators have had ample time to adjust to the Regulations and the additional guidance now provided. Full compliance is essential to protecting consumers and ensuring the sector grows fairly and responsibly,” Bello said. The Commission has warned that enforcement actions, including operational restrictions and legal penalties, will begin immediately after the deadline for any non-compliant entity.
FCCPC has made all Guidelines, forms, and Frequently Asked Questions (FAQs) available on its website and through offices nationwide. Ijagwu reiterated the Commission’s commitment to fostering a safe, transparent, and trustworthy digital lending environment that balances innovation with consumer protection, reinforcing confidence in Nigeria’s fintech ecosystem.
source: Leadership