FCCPC Sets January Deadline for Digital Lending Regulations Compliance
The Federal Competition and Consumer Protection Commission (FCCPC) has set January 2026 as the deadline for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
Mr Ondaje Ijagwu, the Director of Corporate Affairs at the Commission, disclosed this in a notice on Thursday in Abuja. Ijagwu said the regulation aims to promote fairness, transparency, and accountability in Nigeria’s growing digital lending market. He said enforcement of the regulations would begin immediately after the expiration of the deadline.
Ijagwu quoted the Executive Vice Chairman of the Commission, Mr Tunji Bello, as saying that non-compliant entities may face sanctions, including restrictions from operating, suspension of partnerships, and other penalties permitted by law.
Bello said full compliance was both a legal requirement and a critical step towards protecting consumers while fostering responsible growth in the lending sector.
“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.
He added that all affected operators, including lending platforms, service partners, and intermediaries, must complete their compliance obligations by Jan. 5, 2026.
According to him, the commission has issued an additional instrument under Sections 17 and 163 of the FCCPA to help operators meet the required standards.
He said the new document would provide practical guidance for lenders and intermediaries, outlines necessary documentation, and introduces updated Forms 1 and 3 based on feedback from stakeholders.
Bello reaffirmed FCCPC’s commitment to promoting responsible digital lending practices that protect consumers and strengthen confidence in Nigeria’s financial technology sector.
