The Federal Competition and Consumer Protection Commission has set January 5, 2026, as the deadline for all digital lending platforms and intermediaries in Nigeria to comply fully with its new consumer lending regulations.
The move, announced in a statement on Thursday by the commission’s Director of Corporate Affairs, Ondaje Ijagwu, marks a major step in the government’s effort to rein in unethical practices that have plagued the fast-growing digital lending industry.
The directive follows the introduction of the Regulations, which took effect on July 21, 2025, under the Federal Competition and Consumer Protection Act 2018.
It seeks to promote fairness, transparency, and accountability across the country’s lending ecosystem. To aid compliance, the Commission has also released an accompanying Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, issued under Sections 17 and 163 of the FCCPA 2018.
The statement read, “The Federal Competition and Consumer Protection Commission has set Monday, 5 January 2026, as the deadline for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.”
