FCCPC Issues New Regulations To Curb Abuses In Digital Lending Sector

Описание: The Federal Competition and Consumer Protection Commission (FCCPC) has unveiled the Digital, Electronic, Online, or Non-Traditional (DEON) Consumer Lending Regulation 2025 to curb exploitative practices in Nigeria’s digital lending sector.

FCCPC Executive Vice Chairman, Mr. Tunji Bello, said the regulations will tackle harassment, data privacy breaches, and unethical loan recovery tactics, ensuring stronger consumer protection. The Commission has also directed all digital lenders, mobile money operators, and digital money lenders to comply with the new framework while encouraging consumers to report violations via its complaint portal.

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