Lagos, Nigeria — E be like say digital lenders for Nigeria don begin dey feel the heat! Na Federal Competition and Consumer Protection Commission (FCCPC) don announce say dem go close shop for any digital lender wey no respect this new rule wey dem drop.
Mark your calendar, because January 5, 2026, na the final deadline for all these lenders to align with Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations wey come into effect since July 21, 2025. Wetin dem talk? Say compliance no be just about obeying law, but to secure consumers and make the market dey grow as e suppose dey.
Tunji Bello, the Executive Vice Chairman, no forget to hammer on top this point. Im talk say compliance fit save consumers from serious wahala wey fit come from bad lending practices. “All operators, including lending platforms, service partners, and intermediaries, must meet their obligations by January 5, 2026. We don give time plenty for adjustment, and the new guidelines go make am easier to comply,” im talk.
Dem don set guidelines wey go help these lenders sabi wetin dem need to do. Na wah! Lenders wey still dey process their applications fit carry forward any additional info wey dem need without waiting for FCCPC to ask dem twice. Na level!
But make we no lie, enforcement go start immediately after the deadline. Any lender wey no do im homework go face serious gbege like operational restrictions and partner disengagement. This one no be play o! If you no follow the rules, na serious consequences dey wait for you, wey fit reach court.
The digital lending space for Nigeria don dey grow like osheoma for bad market. Apps and online platforms dey dish out loans like garri wey dey swell when water touch am. But with this fast growth, wahala like irresponsible lending don show face. Hidden fees and dangerous terms dey keep consumers for watch. Na why the FCCPC dey enforce compliance, so borrowers no go dey fall victim for bad practices again.
Full compliance go mean say clearer loan terms and fairer rates go dey available for naija consumers. Lenders too go need am to upgrade their internal processes quick-quick. But some small fintech companies fit struggle to meet these standards e no be small.
Time no dey waste, as countdown don start well well. All dem must prepare sharp sharp before January 5, 2026, to avoid any wahala. For those wey still dey look how dem go fit flow with the new guidelines, make you visit the FCCPC website or waka enter their offices nationwide to grab these Guidelines.
As we dey gree and jolly as digital revolution dey catch fire for Naija, the FCCPC dey ensure say consumer protection dey intact. Because we don’t want make any lender turn consumer naija wahala to just another money-making scheme. Na now we go see who dey serious for this digital lending game!
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