The Federal Competition and Consumer Protection Commission (FCCPC) has fixed Monday, January 5, 2026, as the deadline for all operators to fully comply with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
The Commission, in a statement signed by its Director of Corporate Affairs, Ondaje Ijagwu on Thursday, said the Regulations which came into force on July 21, 2025, under the Federal Competition and Consumer Protection Act (FCCPA) 2018, are aimed at ensuring fairness, transparency and accountability across Nigeria’s fast-growing digital lending space.
To further aid operators’ compliance efforts, the FCCPC announced the release of an additional 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 detailed directions for lenders and intermediaries, outline required documentation, and introduce updated Forms 1 and 3, developed from stakeholder feedback.
According to the Commission, applicants with pending submissions can now provide any extra information required under the new Guidelines without waiting for a formal request, adding that application processing would continue in a transparent and timely manner.
The Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, emphasised the importance of meeting the compliance deadline.
“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 said.
The Commission further stated that all affected operators including lending platforms, service partners, and intermediaries, must complete their compliance obligations by January 5, 2026.
It warned that enforcement actions would commence immediately after the deadline, including restricting non-compliant entities from operating, directing partners or platforms to cease dealing with them, and applying other sanctions permitted under the law.
The Commission also noted that copies of the Guidelines, relevant forms, and Frequently Asked Questions (FAQs) are available on its website, www.fccpc.gov.ng, and can be accessed at its offices nationwide or through other official communication channels.
The FCCPC reaffirmed its commitment to promoting responsible digital lending practices that protect consumers and enhance confidence in Nigeria’s financial technology ecosystem.
(Vanguard)
