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FCCPC cracks down on errant digital money lenders

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FCCPC cracks down on errant digital money lenders

22 Jan, 2026

The Federal Competition and Consumer Protection Commission has commenced phased enforcement of sanctions against Digital Money Lending operators that failed to regularise their operations in line with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025. The compliance deadline for affected operators expired on Monday, January 5, 2026. In a statement on Wednesday, the Director of Corporate Affairs at the FCCPC, Ondaje Ijagwu, said the enforcement exercise was aimed at ensuring regulatory certainty and restoring confidence in Nigeria’s fast-growing digital lending market...............................….......READ MORE