My people, hear dis one well! The Federal Competition and Consumer Protection Commission (FCCPC) don open fire for digital money lenders wey no follow ground rules. E be like say dem wan show dem say ‘no be play, compliance matter dey serious!’
January 5, 2026, na the deadline wey the FCCPC don set for all dem digital lenders, wey call dem Digital Money Lending (DML) operators, to regularise dem operations under di new Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025. But guess wetin happen? Plenty of dem no gree complete di task.
As the Executive Vice Chairman and Chief Executive Officer, Mr. Tunji Bello talk, dem don close di compliance window sharp-sharp. Now, dem dey carry out enforcement wey go ensure say evri body follow di law wey don dey. E mean say more wahala dey for those wey just dey chop dey wait for miracle!
Bello no wan hear story. He talk say dem don withdraw all di conditional approvals wey dem give to DML operators wey no finish regularisation. Na so dem just dey waka comot from di FCCPC register of approved lenders. If you no dey among di approved people, make you shine your eye well well!
The register na like prayer point for consumers – e go guide dem on wetin to do. Tunji Bello come advise say, ‘If una no see dem for our list, abeg keep una distance!’ Na correct warning be dat!
And no be say dem no dey do anything o! Di Commission don start follow-up gist with application hosting platforms and payment service providers, just to ensure everybody dey play by di rules. Na wetin dem talk be say, more regulatory actions go come if anybody no gree waka straight!
For all di people wey still dey fight for their registration, di FCCPC don set April 2026 as di final deadline to show dey comply under di DEON regulations. Bello don yan say, if dem no fit regularise before dat time, dem go face hot wahala!
In conclusion, na to promote market discipline dem dey work for, help correct operators wey dey follow di rules, and protect di consumers from any kind wahala and shady deals. FCCPC don vow to keep di system transparent, fair, and dem no dey joke with consumer protection again!
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