The New FCCPC Rule And How It Affects You

Access to credit in Nigeria is evolving and here’s what’s driving the change.

In September 2025, the Federal Competition and Consumer Protection Commission (FCCPC); Nigeria’s Agency responsible for protecting consumer rights and ensuring fair business practices updated its Digital Lending Guidebook.

This guide, formally known as the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, reinforces stronger rules designed to promote trust across the lending space.

So, what does this Regulation mean?

The FCCPC’s Guidebook for Digital Lending lays down clear rules for how online lenders in Nigeria should operate; no more hidden fees, confusing terms, or data misuse.

It mandates all lenders to register, be transparent about interest rates and repayment schedules, and treat borrowers with respect.

To summarize, it is the commission’s way of saying: if you lend, do it right and if you borrow, you deserve respect and clarity.

The new framework builds a more accountable digital lending environment, grounded in clarity, ethical practices, and data protection, aimed at restoring trust and ensuring that access to credit comes with fairness on both sides.

What This Means for Lenders: Compliance is a Must.

For lenders, the rules are a line in the sand, compliance rules must be tightened.

Lenders are also required to manage customer data responsibly clarity on terms and renew licenses regularly, ensuring continued accountability to both regulators and consumers.

In practice, this is an opportunity to build credibility and long-term trust within the sector and emphasize a culture built on compliance, clarity, and trust.

What This Means for Borrowers

For borrowers, this rule is a win. Loan terms must be clearly stated before you commit; (Interest rates, repayment periods, fees, etc.) all key terms laid out in plain sight.

Even more important, lenders are now required to respect your privacy and dignity, debt collection must now be professional and humane.

This framework gives more control, empowering you to make informed decisions and broader access to credit without fear to help you grow on your own terms.

Rasing the Standard

The FCCPC’s updated rulebook reinforces a stronger standard for Nigeria’s lending space rooted in transparency, accountability, and mutual trust.

It strives to broaden access to credit by instilling clarity and responsibility with better structure and outcomes for lenders, for borrowers, and for the entire ecosystem.