The Federal Competition and Consumer Protection Commission has set April 2026 as the final deadline for digital money lending operators to regularise their operations under Nigeria’s Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
The commission said the deadline applies to operators provisionally designated as eligible under transitional arrangements, following the expiration of the initial compliance window on 5 January 2026.
FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, stated this in a post on X on Wednesday.
He said enforcement measures have already commenced against digital lenders that failed to regularise their status within the stipulated timeframe.
“The compliance window provided under the Regulations has now closed.
“At this stage, the Commission is proceeding with appropriate enforcement steps in a manner that is fair, orderly, and consistent with due process,” Bello said.
“Operators who fail to regularise their status by April 2026 may face additional regulatory measures.
“This window is provided to enable affected operators to take steps towards compliance.
“Operators that choose not to regularise their status within this period may be subject to further regulatory measures, as provided under the law,” he said.
The FCCPC said the enforcement drive is aimed at promoting market discipline, protecting compliant operators from unfair competition and safeguarding consumers from abusive, deceptive or unlawful practices.
The commission reaffirmed its commitment to transparent regulation, fair competition and effective consumer protection across Nigeria’s digital economy.
Source – Punch
(vitalnewsngr.com)
