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By Tracy Moses
The Federal Competition and Consumer Protection Commission (FCCPC) has commenced enforcement measures against Digital Money Lending (DML) operators that failed to regularise their operations under the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations (DEON Regulations), 2025.
The compliance deadline, which expired on Monday, 5 January 2026, was issued to ensure that all digital lenders meet operational and consumer protection standards.
The announcement was made in a statement on Wednesday by Ondaje Ijagwu, Director of Corporate Affairs, FCCPC. Background: How Nigeria Got Here Nigeria’s digital lending sector has expanded rapidly in recent years, providing millions of consumers with access to loans through mobile apps and online platforms.
While this growth has improved financial inclusion, it has also raised concerns about predatory lending practices, unclear repayment terms, high interest rates, and data privacy breaches.
To address these challenges and bring order to the market, the FCCPC introduced the DEON Regulations in 2025.
The rules require all digital money lenders to regularise their operations, meet compliance standards, and appear on the FCCPC’s official register of approved digital lenders. The regulations also allowed a transitional window for operators to meet these requirements, which has now ended.
Commencement of Enforcement
Speaking on the enforcement measures, FCCPC’s Executive Vice Chairman and Chief Executive Officer, Mr. Tunji Bello, said the actions were necessary to uphold the Regulations and maintain regulatory certainty in Nigeria’s digital lending market.
“The compliance window provided under the Regulations has now closed. At this stage, the Commission is proceeding with appropriate enforcement steps in a manner that is fair, orderly, and consistent with due process,” Mr. Bello said.
He emphasised that the initiative aims to promote discipline, transparency, and consumer confidence in the digital lending space, rather than disrupt legitimate business activity.
As part of the enforcement framework, the Commission has withdrawn conditional approvals previously granted to operators that did not complete the required regularisation process.
These operators have been removed from the FCCPC’s published register of approved digital lenders, pending compliance with regulatory standards.
“The FCCPC’s register is an important tool for consumers. It is intended to guide the public on operators that have met the applicable regulatory requirements.
Consumers are advised to exercise caution when dealing with digital lenders that do not appear on the Commission’s current list of approved operators,” Mr. Bello added.
Next Steps for Non-Compliant Operators
The FCCPC has also begun structured engagement with application hosting platforms and payment service providers as part of its ongoing monitoring and enforcement activities. Operators provisionally eligible under transitional arrangements have until April 2026 to regularise their registration under the DEON Regulations.
“This window allows affected operators to take the necessary steps towards compliance. Operators that fail to regularise their status within this period may face further regulatory measures, as provided under the law,” Mr. Bello warned.
The Commission reiterated that the enforcement process is aimed at supporting market discipline, protecting compliant operators from unfair competition, and safeguarding consumers from abusive or unlawful practices. “Effective regulation depends on consistency.
Compliant businesses deserve a predictable environment, and consumers are entitled to protection under the law,” Mr. Bello said.
The FCCPC reaffirmed its commitment to transparent regulation, fair competition, and effective consumer protection across Nigeria’s digital economy.