The Federal Competition and Consumer Protection Commission has fixed 5 January 2026 as the final date for all digital lending operators to comply with Nigeria’s new regulatory framework. The move signals a decisive push to bring order to a sector that has expanded rapidly and often without clear oversight.
The Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations came into force on 21 July 2025. They were introduced under the Federal Competition and Consumer Protection Act to strengthen fairness and accountability across the digital credit market and to curb practices that expose borrowers to abuse. With the deadline now set, the Commission expects every lending platform, service partner, and intermediary to complete all compliance steps before the new year.
To help operators meet the required standards, the Commission has released an additional guidance document built on sections 17 and 163 of the Act. The Guidelines explain the required documentation and outline how lenders and their agents should adapt their systems. They also introduce revised application forms that reflect suggestions gathered during stakeholder engagements. Companies with pending applications are free to submit any extra material without waiting for a formal request, and the Commission says it will continue to process filings with openness and speed.
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The Executive Vice Chairman of the Commission, Tunji Bello, urged operators to take the date seriously. He noted that compliance remains a statutory duty and an essential guard for consumers who rely on digital credit services. According to him, the Commission has provided enough time for operators to adjust to the rules, and the added direction offered through the new Guidelines should remove any remaining uncertainty.
Once the deadline passes, the Commission will begin enforcement. Actions may include restricting the activities of firms that fail to meet the requirements, directing partners to disengage from them, and applying sanctions allowed under the law. The Guidelines, updated forms, and answers to common questions are available on the Commission’s website and through its offices across the country.
The Commission says its goal is to build a responsible digital lending environment that safeguards borrowers and supports public trust in the fintech space.
