The New FCCPC Consumer Lending Regulation and How Digital Lenders Can Stay Compliant

The Federal Competition and Consumer Protection Commission introduced new digital lending regulations in Nigeria, effective October 22, 2025, with fines of 50-100 million naira or 1% of annual turnover for non-compliance. The article outlines requirements including identity verification, creditworthiness assessment using financial data, and secure loan recovery via direct debit mandates.