FCCPC Sets January 5 Deadline for Digital Loan Apps to Comply with New Lending Regulations in Nigeria

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The Federal Competition and Consumer Protection Commission (FCCPC) has announced January 5, 2026, as the official deadline for all digital lending platforms and intermediaries in Nigeria to comply fully with its new consumer credit and lending regulations aimed at promoting fairness, transparency, and accountability within the country’s rapidly expanding fintech ecosystem.

In a statement released on Tuesday, the Commission emphasized that the updated regulatory framework is designed to protect borrowers from predatory lending practices, data misuse, and harassment by unlicensed or unethical digital money lenders.

According to the FCCPC, the new rules will ensure that all licensed operators maintain transparent interest rates, clear disclosure of loan terms, and secure handling of consumers’ personal information.

“This regulatory deadline marks a decisive step toward sanitising Nigeria’s digital lending industry,” the statement read.

“All lending platforms, including aggregators and intermediaries, must demonstrate full compliance with registration, data protection, and consumer engagement standards by January 5, 2026, or face enforcement action.” The Commission added that it is working closely with the Central Bank of Nigeria (CBN), NITDA, and other financial regulators to establish a unified compliance database that will track the operational status of all digital lending entities across the country. Since 2022, the FCCPC has clamped down on several loan apps for violating user privacy, employing intimidation tactics, and operating without proper authorisation. The Commission’s new compliance initiative builds on that momentum, signaling a stronger commitment to consumer protection and ethical fintech innovation. Industry observers believe the new regulation will help restore public confidence in digital credit services and attract more responsible investors into Nigeria’s booming digital finance sector.