From Atiku Sarki, Abuja
The Federal Competition and Consumer Protection Commission has fixed January 5, 2026, as the deadline for all operators in Nigeria’s digital lending space to fully comply with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
This was disclosed in a statement issued on Thursday in Abuja by the Commission’s Director of Corporate Affairs, Ondaje Ijagwu.
According to the FCCPC, the regulations—effective since July 21, 2025—were introduced under the Federal Competition and Consumer Protection Act 2018 to strengthen fairness, transparency and accountability in the rapidly expanding digital lending market.
To further support operators, the Commission also released a complementary instrument, the Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, made pursuant to Sections 17 and 163 of the FCCPA.
The guidelines provide operational direction, clarify documentation requirements and introduce updated Forms 1 and 3 based on stakeholder feedback.
The Commission noted that applicants with pending submissions may update their files with additional information required under the new guidelines without waiting for a formal request, adding that applications would continue to be processed transparently and without delays.
The Executive Vice Chairman of the FCCPC, Tunji Bello, emphasised the importance of adherence to the timeline, stating that full compliance is a legal obligation and a crucial step in safeguarding consumers.
“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,” Bello said.
All lending platforms, intermediaries and service partners are required to complete their compliance obligations by the January 5 deadline. The FCCPC added that enforcement actions would commence immediately thereafter, including restricting the operations of non-compliant entities, directing partners to cease dealings with them, and applying appropriate sanctions under the law.
Copies of the guidelines, forms and FAQs are available on the Commission’s website, as well as at FCCPC offices nationwide.
The Commission reiterated its commitment to promoting responsible lending practices that protect consumers and strengthen confidence in Nigeria’s fintech ecosystem.