Trending 
Nigeria has begun enforcing new rules governing online lending platforms, moving to delist Digital Money Lending (DML) operators that failed to regularise their operations under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
The Federal Competition and Consumer Protection Commission (FCCPC) announced the action in a statement on Wednesday.
DML operators who did not finish the regularisation process within the transitional period had their conditionally approved status revoked by the commission under the approved enforcement framework, according to the FCCPC.
FCCPC’s Executive Vice Chairman and CEO, Tunji Bello, said the enforcement followed the January 5, 2026, deadline set by the commission for compliance with the regulations.
Bello said the measures were necessary to uphold regulatory standards and ensure stability 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,” Bello said.
He added that the objective of the action was “to promote discipline, transparency, and consumer confidence within the digital lending space, not to disrupt legitimate business activity.”
According to him, the FCCPC has also commenced structured engagement with application hosting platforms and payment service providers as part of its ongoing enforcement and compliance monitoring efforts.
Bello said additional regulatory steps would follow in line with the law.
For operators provisionally designated as eligible under transitional arrangements, the FCCPC said a new deadline of April 2026 has been set for them to complete registration under the DEON Regulations.
“This window is provided to enable affected operators to take steps towards compliance. Operators that choose not to regularise their status within this period may be subject to further regulatory measures, as provided under the law,” he added.
He also noted the importance of the FCCPC’s register as a guide for consumers, noting that it reflects digital lenders that have met the applicable regulatory requirements at the time of publication.
Bello then advised members of the public to exercise caution when dealing with digital lending platforms that do not appear on the commission’s current list of approved operators.
“The FCCPC’s register is intended to guide the public on operators that have met the applicable regulatory requirements as of the time of publication.
“Consumers were advised to exercise caution when dealing with digital lenders that do not appear on the Commission’s current list of approved operators.”
