The Federal Competition and Consumer Protection Commission (FCCPC) has set January 5, 2026, as the deadline for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
The regulations, which came into effect on July 21, 2025, under the Federal Competition and Consumer Protection Act (FCCPA) 2018, aims to promote fairness, transparency, and accountability across Nigeria’s growing digital lending market.
Recall that the regulations threaten non-compliant operators which risk fines of up to N100 million or 1 per cent of turnover, as well as potential disqualification of directors for up to five years.
The regulator noted that all affected operators, including lending platforms, service partners, and intermediaries, are expected to complete their compliance obligations by the date, adding that enforcement will begin immediately after the deadline.
To support operators in meeting the required standards, the commission in a statement on Thursday, issued an additional instrument, the guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, made under Sections 17 and 163 of the FCCPA. This document provides practical direction for lenders and intermediaries, explains the documentation required, and introduces updated Forms 1 and 3 based on feedback received from stakeholders.
The FCCPC said applicants with pending submissions may provide any additional information required under the new Guidelines without waiting for a formal request.
“The commission will continue to process applications promptly and maintain a transparent review process,” he said.
Speaking on this, the Executive Vice Chairman of the FCCPC, Mr Tunji Bello, stressed the importance of meeting this timeline, noting that “full compliance is not only a legal requirement but an important step in protecting consumers and ensuring that the sector continues to grow in a fair and responsible manner.”
“Operators have had ample time to adjust to the Regulations and the additional guidance now provided. We expect all obligations to be met before the deadline,” he added.
If registration is not met, FCCPC says measures may include restricting non-compliant entities from operating, directing partners or platforms to cease dealing with them, and applying other sanctions permitted under the law.
“The FCCPC is committed to promoting responsible digital lending practices that protect consumers and support confidence in the financial technology sector,” the statement added.