The deadline for all digital lending platforms and intermediaries in Nigeria to fully comply with its new consumer lending regulations has been fixed for January 5, 2026 by the Federal Competition and Consumer Protection Commission (FCCPC).
The agency 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 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 Commission’s Director of Corporate Affairs, Ondaje Ijagwu, who announced the deadline date through a statement issued on Thursday, said it marks a major step in the Federal Government’s effort to rein in unethical practices that have plagued the fast-growing digital lending industry.
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. The Regulations came into effect on 21 July 2025 under the Federal Competition and Consumer Protection Act 2018. It aims to promote fairness, transparency, and accountability across Nigeria’s growing digital lending market.”
To support operators in meeting the required standards, the Commission has issued an additional instrument — the Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 — made under Sections 17 and 163 of the FCCPA.
The document provides practical direction for lenders and intermediaries, explains the documentation required, and introduces updated Forms 1 and 3 based on feedback received from stakeholders.
Applicants with pending submissions may provide any additional information required under the new guidelines without waiting for a formal request. The Commission will continue to process applications promptly and maintain a transparent review process.
Commenting, the Executive Vice Chairman of the FCCPC, Mr Tunji Bello, stressed the importance of meeting the compliance timeline.
“Full compliance is not only a legal requirement but an important step in protecting consumers and ensuring that the sector continues to grow fairly and responsibly. Operators have had ample time to adjust to the Regulations and the additional guidance now provided. We expect all obligations to be met before the deadline,” Bello said.
Under the new rules, all lending platforms, service partners, and intermediaries must meet the stipulated compliance obligations by January 5, 2026. Enforcement actions will commence immediately after the deadline, with penalties including operational restrictions, suspension of non-compliant entities, and possible prosecution under the FCCPA.
Copies of the guidelines, required forms, and frequently asked questions are available on the FCCPC’s website and through its nationwide offices.
