The FCCPC Gives Digital Lenders Until January 5 to Fully Comply with Updated Regulations

The Federal Competition and Consumer Protection Commission (FCCPC) has set Monday, January 5, 2026, as the final deadline for all digital lenders to fully comply with the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025. These regulations came into effect on July 21, 2025, under the Federal Competition and Consumer Protection Act. The aim is to bring more transparency, fairness, and accountability to Nigeria’s fast-growing digital lending space.

The FCCPC has rolled out detailed guidelines to help lenders meet the requirements. These guidelines clearly explain what documents need to be submitted, how to submit them, and include updated forms reflecting feedback from the lending community. Digital lenders with applications still pending can now provide additional information proactively without waiting for a formal request from the commission.

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In a recent post on X, the FCCPC Executive Vice Chairman, Tunji Bello, emphasized the importance of meeting this deadline. He pointed out that following the rules is not just about legally ticking boxes—it’s about protecting consumers and supporting the long-term growth of the digital lending sector. Bello said all players, including lending platforms, partners, and intermediaries, must fulfill their obligations by January 5, 2026. He also highlighted that the FCCPC updated regulations have made it easier for lenders to comply by giving ample time and clearer instructions to follow. 

The commission has been clear that after this deadline, enforcement will kick in immediately. Any digital lenders who fail to comply with the FCCPC updated regulations risk serious consequences. These could range from having their operating licenses suspended or revoked, to losing business partnerships, or even facing financial and legal penalties. 

The FCCPC digital lenders updated regulations and related forms are publicly available on the FCCPC website. The commission promises to keep the review process open and transparent for everyone involved.

Nigeria’s digital lending sector has boomed in recent years, making loans easily accessible through apps and online platforms. But this quick expansion hasn’t come without problems. Some irresponsible lending practices have crept in, leading to hidden fees and unfair terms that hurt consumers.

By enforcing compliance with the updated rules, the FCCPC wants to protect borrowers, improve transparency, and restore trust in the fintech lending ecosystem. The goal is also to encourage healthy competition among lenders, which ultimately benefits both businesses and customers.

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For Nigerian consumers, full compliance means loan terms will be clearer, interest rates fairer, and platforms safer to use. At the same time, lenders will need to improve their internal processes to meet these standards. While this might create some hurdles, especially for smaller fintech startups, it’s a necessary step to ensure the sector’s sustainable growth.

With the January 5, 2026 deadline fast approaching, all digital lenders must ramp up efforts to comply with the FCCPC giving digital lenders until January 5 to comply with regulations and avoid penalties. The commission’s updated regulations mark a significant move toward a better, fairer digital lending environment across Nigeria.

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