The Federal Competitors and Client Safety Fee (FCCPC) has fastened January 5, 2026, because the deadline for all digital lenders to totally adjust to the Digital, Digital, On-line and Non-Conventional Client Lending Laws, 2025.
The Laws, which got here into impact on July 21, 2025, had been issued beneath the Federal Competitors and Client Safety Act (FCCPA) 2018 to strengthen equity, transparency, and accountability throughout Nigeria’s quickly increasing digital lending market.
FCCPC’s director of company affairs, Ondaje Ijagwu, acknowledged that the Fee has additionally launched a complementary doc titled: The Pointers on the Digital, Digital, On-line and Non-Conventional Client Lending Laws, 2025, pursuant to Sections 17 and 163 of the FCCPA. The Pointers supply sensible route to operators, specify documentation necessities, and introduce up to date Kinds 1 and three following in depth stakeholder consultations.
Ijagwu famous that candidates with pending submissions might now present any further data required beneath the brand new Pointers with out ready for a proper request. He added that the Fee would preserve a clear and environment friendly overview course of to help well timed compliance.
The chief vice chairman of the FCCPC, Tunji Bello, underscored the significance of the deadline, describing full compliance as each a authorized and ethical crucial.
“Full compliance isn’t solely a authorized requirement however an vital step in defending customers and guaranteeing that the sector continues to develop pretty and responsibly. Operators have had ample time to regulate to the Laws and the extra steerage now supplied. We anticipate all obligations to be met earlier than the deadline,” Bello stated.
The Fee acknowledged that each one affected operators, together with digital lending platforms, service companions, and intermediaries, should full their compliance obligations by January 5, 2026. After this date, enforcement actions will start instantly. Sanctions might embrace proscribing non-compliant entities from working, directing companions or platforms to stop engagements with them, and different penalties prescribed by legislation.
Ijagwu added that copies of the Pointers, Kinds, and Steadily Requested Questions (FAQs) can be found on the Fee’s web site in addition to by means of FCCPC places of work nationwide and different official communication channels.
He reaffirmed the Fee’s dedication to selling accountable digital lending practices that safeguard customers whereas fostering confidence in Nigeria’s monetary expertise ecosystem.
