A total of 521 digital lending companies are now under the regulatory oversight of Nigeria's Federal Competition and Consumer Protection Commission FCCPC, following the expiration of the January 5 deadline for compliance with new consumer lending rules.
The FCCPC had directed all digital lenders operating through mobile apps, online platforms or other non-traditional channels to register with the Commission and comply with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025. Enforcement began immediately after the deadline.
According to data from the Commission, 457 of the registered companies have received full approval, while 35 were granted conditional approval. An additional 29 lenders licensed by the Central Bank of Nigeria CBN remain subject to FCCPC oversight under the new framework.
