Abuja, Jan. 22, 2026 – The Federal Competition and Consumer Protection Commission (FCCPC) is to clamp down on Digital Money Lending (DML) operators who failed to regularise their operations with the commission.
The Commission said this in a circular issued on Wednesday in Abuja by Ondaje Ijagwu, its Director of Corporate Affairs.
It said it had given the operators up to Jan 5, 2026 to regularise their operations, stressing that the regularisation is in accordance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
The circular quoted Tunji Bello, the Executive Vice Chairman of the Commission, as saying that the actions were necessary to give effect to the regulations and to maintain regulatory certainty in the country’s digital lending market.
He said the objective was to promote discipline, transparency, and consumer confidence within the digital lending space, and not to disrupt legitimate business activity.
“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.
“As part of the approved enforcement framework, the commission has withdrawn the conditionally approved status previously granted to certain DML operators that did not complete the required regularisation process within the transitional period.
“Consequently, such operators have been removed from the FCCPC’s published register of approved digital lenders, pending compliance with applicable regulatory requirements,” he said.
