FCCPC Gives Digital Lenders January 2026 Deadline to Meet New Rules

By Oluwakemi Kindness

The Federal Competition and Consumer Protection Commission (FCCPC) has announced Monday, January 5, 2026, as the final deadline for all digital money lenders and related service providers to fully comply with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.

The Regulations, which took effect on July 21, 2025, under the Federal Competition and Consumer Protection Act (FCCPA) 2018, aims to strengthen fairness, transparency, and accountability within Nigeria’s expanding digital lending market.

To further assist operators in achieving compliance, the Commission has released a complementary instrument – the Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, pursuant to Sections 17 and 163 of the FCCPA.

A statement on Thursday by Director, Corporate Affairs, FCCPC, Ondaje Ijagwu, said the Guidelines provide practical direction for lenders and intermediaries, outline documentation requirements, and introduce updated Forms 1 and 3 reflecting stakeholder feedback.

The FCCPC clarified that applicants with pending submissions may supply additional details required under the new Guidelines without waiting for formal request, as the Commission continues to maintain a transparent and efficient review process.

Emphasizing the significance of the compliance deadline, Executive Vice Chairman of the FCCPC, Tunji Bello, stated:

“Full compliance is not only a legal requirement but a vital measure to protect consumers and ensure the digital lending sector grows in a fair and responsible manner.

Operators have had sufficient time to adjust to the Regulations and the new guidance issued. We expect all obligations to be fully met before the deadline.”

The Commission warned that enforcement actions will commence immediately after January 5, 2026, against any non-compliant entities.

Sanctions may include restricting operations, directing platforms and partners to cease engagement with offenders, and applying other penalties prescribed by law.

The FCCPC reaffirmed its commitment to promoting responsible digital lending practices that protect consumers and build confidence in Nigeria’s fast-growing financial technology ecosystem.