The Federal Competition and Consumer Protection Commission (FCCPC) has begun enforcing the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations), by removing digital money lending (DML) operators that failed to regularise their status.
The commission had set January 5, 2026, as the deadline for compliance. Operators that missed the deadline have had their conditionally approved status withdrawn and have been removed from the FCCPC’s published register of approved digital lenders, pending full compliance.
Speaking on the enforcement, FCCPC Executive Vice Chairman and CEO, Mr. Tunji Bello, said the action was necessary to maintain regulatory certainty and protect consumers.
“The compliance window provided under the Regulations has now closed. At this stage, the Commission is proceeding with appropriate enforcement steps in a fair and orderly manner. Our objective is to promote discipline, transparency, and consumer confidence in the digital lending space, not to disrupt legitimate business activity,” Bello said.
He emphasised that the FCCPC register serves as a guide for consumers. “Consumers are advised to exercise caution when dealing with digital lenders that do not appear on the Commission’s current list of approved operators,” he said.
The commission has also begun engaging application hosting platforms and payment service providers as part of ongoing compliance monitoring. For operators provisionally designated as eligible under transitional arrangements, a new deadline of April 2026 has been set to complete registration under the DEON Regulations.
“Operators that fail to regularise within this period may face further regulatory measures, as provided under the law,” Bello added.
The FCCPC reaffirmed its commitment to transparent regulation, fair competition, and the protection of consumers in Nigeria’s growing digital economy.
