FCCPC removes non-compliant digital lenders from official approved register

In January 2026, the Federal Competition and Consumer Protection Commission (FCCPC) began a phased enforcement to remove non-compliant Digital Money Lenders (DMLs) from its official register of approved digital lenders. This action follows the closure of a compliance window on January 5, 2026, for operators to regularize their status under the new Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).

Key details of the 2026 enforcement include:

Removal of Approvals: The FCCPC has withdrawn the "conditional approval" status of operators that failed to complete regularization within the transitional period, resulting in their immediate removal from the public register.

Platform Restrictions: The Commission is engaging with app hosting platforms (such as Google Play and Apple App Store) and payment service providers to restrict the operations of these non-compliant violators.

Final Deadline for Provisional Operators: Lenders currently holding provisional eligibility under transitional arrangements have until April 2026 to complete full registration or face further sanctions.

Consumer Advisory: Consumers are advised to exercise extreme caution and only engage with lenders appearing on the current FCCPC Approved List, which currently includes over 500 compliant platforms.

Severe Penalties: Non-compliant operators on the Commission's watchlist face potential fines of up to ₦100 million or 1% of annual turnover, operational suspensions, and five-year disqualifications for directors.

You can report harassment or identify unlisted "loan sharks" via the FCCPC Complaint Portal or by emailing lenderstaskforce@fccpc.gov.ng.