The Federal Competition and Consumer Protection Commission (FCCPC)
has mandated all digital lenders in Nigeria to register within 90 days or face heavy fines, sanctions, and director bans under new consumer protection regulations.
The Federal Competition and Consumer Protection Commission (FCCPC) has directed all digital lenders in Nigeria to register with the Commission within 90 days or face sanctions, including fines of up to ₦100 million, 1% of annual turnover, or director disqualification for five years.
The directive is contained in the newly gazetted Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations (DEON Consumer Lending Regulation), 2025, announced in Abuja by Tunji Bello, FCCPC’s Executive Vice Chairman/CEO.
“For too long, Nigerians have endured harassment, data breaches, and unethical practices by unregulated digital lenders,” Bello said. “These regulations draw a clear line that innovation is welcome, but not at the expense of rights and dignity of consumers, or the rule of law.”
The framework prohibits exploitative recovery methods, unethical marketing, and privacy breaches, while mandating transparency, fair loan terms, and local service partnerships. The Commission urged consumers to report illegal operators through its complaint portal.