The Federal Competition and Consumer Protection Commission (FCCPC) has begun enforcement action against digital lenders who failed to comply with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations). The January 5, 2026 deadline for compliance has passed, prompting the Commission to withdraw conditional approvals from non-compliant operators and remove them from its published register of approved digital lenders.

The FCCPC emphasized that the clampdown is aimed at ensuring regulatory certainty, protecting consumers, and promoting fair competition in Nigeria’s rapidly growing digital lending market. The Commission warned consumers to exercise caution and only transact with licensed operators while reiterating its commitment to consumer protection, transparency, and market discipline.

The move is expected to strengthen the sector, safeguard legitimate operators, and enhance consumer confidence in digital credit services across the country.