The number of companies officially registered as digital lenders, popularly known as loan apps, has surged in the past months, reaching a total of 492 in October as more companies registered to escape N100 million fine. This comes as the Federal Competition and Consumer Protection Commission (FCCPC) implements a new rule targeted at all digital lenders in the country. Under the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations, 2025, which came into effect on July 21, 2025, all digital lenders operating in the country must register with the FCCPC within 90 days of commencement.......... . . . . . . . READ MORE