Securing FCCPC Approval: A Guide for Digital Lenders Before the 2026 Deadline
The clock is ticking for digital lenders in Nigeria. The Federal Competition and Consumer Protection Commission (FCCPC) is enforcing the Digital, Electronic, Online, and Non-Traditional Consumer Lending (DEON) regulations 2025, and compliance is mandatory. Starting January 5, 2026, any digital lender or loan application operating without full FCCPC approval faces hefty penalties. These sanctions include fines of up to N100 million or 1% of the previous year’s turnover, individual fines reaching N50 million, and potential suspensions or disqualifications of board directors for up to five years.
Navigating the DEON Regulations 2025
Digital lenders operating in Nigeria must act swiftly to secure FCCPC approval before the January 5, 2026 deadline. Failure to comply will result in substantial financial penalties and potential operational disruptions, highlighting the critical need for immediate action.
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