FCCPC Unveils Rules To End Loan App Harassment, Impose ₦100m Sanctions
By Nosakhale Akhimien | Updated September 3, 2025
The Federal Competition and Consumer Protection Commission (FCCPC) has introduced new regulations to curb harassment, data breaches, and other unethical practices by digital lenders in Nigeria.
Unveiled by FCCPC CEO Tunji Bello in Abuja, the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations (DEON Consumer Lending Regulation) 2025—effective from July 21—mandate all digital lenders to register with the Commission within 90 days and comply with strict transparency and consumer protection standards.
Key provisions include a ban on pre-authorised lending, unethical marketing, and automatic loan approvals, while requiring clear loan terms, data protection, and local ownership of at least one service provider for airtime and data lending.
Non-compliant operators face fines of up to ₦100 million or 1% of turnover, with possible director disqualification for five years. The FCCPC also urged consumers to report unlawful or unregistered loan apps and exploitative practices.
By Nosakhale Akhimien | Updated September 3, 2025
The Federal Competition and Consumer Protection Commission (FCCPC) has introduced new regulations to curb harassment, data breaches, and other unethical practices by digital lenders in Nigeria.
Unveiled by FCCPC CEO Tunji Bello in Abuja, the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations (DEON Consumer Lending Regulation) 2025—effective from July 21—mandate all digital lenders to register with the Commission within 90 days and comply with strict transparency and consumer protection standards.
Key provisions include a ban on pre-authorised lending, unethical marketing, and automatic loan approvals, while requiring clear loan terms, data protection, and local ownership of at least one service provider for airtime and data lending.
Non-compliant operators face fines of up to ₦100 million or 1% of turnover, with possible director disqualification for five years. The FCCPC also urged consumers to report unlawful or unregistered loan apps and exploitative practices.
FCCPC Unveils Rules To End Loan App Harassment, Impose ₦100m Sanctions
By Nosakhale Akhimien | Updated September 3, 2025
The Federal Competition and Consumer Protection Commission (FCCPC) has introduced new regulations to curb harassment, data breaches, and other unethical practices by digital lenders in Nigeria.
Unveiled by FCCPC CEO Tunji Bello in Abuja, the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations (DEON Consumer Lending Regulation) 2025—effective from July 21—mandate all digital lenders to register with the Commission within 90 days and comply with strict transparency and consumer protection standards.
Key provisions include a ban on pre-authorised lending, unethical marketing, and automatic loan approvals, while requiring clear loan terms, data protection, and local ownership of at least one service provider for airtime and data lending.
Non-compliant operators face fines of up to ₦100 million or 1% of turnover, with possible director disqualification for five years. The FCCPC also urged consumers to report unlawful or unregistered loan apps and exploitative practices.
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