10 Key Points on Nigeria’s New FCCPC Digital Lending Regulations
Nigeria’s digital lending sector, a $2.1 billion market serving millions, is undergoing significant changes. The Federal Competition and Consumer Protection Commission (FCCPC) introduced the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations, 2025, effective July 25, 2025. This new regulatory framework aims to curb predatory lending practices and increase accountability within the booming industry, a crucial step given rising defaults and economic strains impacting both borrowers and lenders across Nigeria.
Understanding the New Regulations: 10 Key Takeaways
Technext provides a clear guide, condensing the regulations into 10 key points for easy understanding. A critical detail highlighted is the exponential growth in approved digital lenders. As of July 2025, 399 lenders had received full approval, a massive increase from 119 in April 2023, representing a 235% surge. Including conditional approvals, the total number of approved lenders reached approximately 425. This underscores the rapid expansion of the digital lending landscape in Nigeria and the urgency for effective oversight. Nigerians, including everyday borrowers who face the risk of high-interest rate traps, and lenders who must navigate compliance costs, need to closely monitor these new regulations to understand their implications.
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