In a bid to enhance accountability and strengthen consumer protection within the digital lending ecosystem, the Federal Competition and Consumer Protection Commission (the FCCPC or Commission) has issued the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations, 2025 (the Lending Regulations), which came into effect on 21 July 2025.
This follows the Commission’s prior measures to address unethical and predatory practices within the digital lending ecosystem, particularly through the issuance of the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending 2022 (the Interim Guidelines).
The Lending Regulations establish a definitive legal framework for the provision of Consumer Lending Services in Nigeria in relation to registration, compliance obligations, consumer protection and competition safeguards to be adopted, and the applicable penalties for contravention of any provisions thereof.
In this Newsletter, we provide an overview of the notable changes introduced by the Lending Regulations and assess their likely impact on the digital lending industry in Nigeria.
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