Saturday, June 6, 2026: The attention of the Federal Competition and Consumer Protection Commission (FCCPC) has been drawn to a report in a section of the media purporting it was involved in the submission to the Presidency, the names of local fintech companies seeking to partake in the digital lending market with a view to curbing capital flight abroad.
The Commission wishes to state clearly that it is not aware of, and was not involved in, the claims attributed to it in the report absolutely.
For clarity, the Commission’s position on matters relating to digital and non-traditional lending is limited to its regulatory responsibilities under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 (DEON Regulations).
As previously communicated by the Commission, implementation and enforcement of the DEON Regulations were suspended following service of an ex-parte order of the Federal High Court in Lagos in Suit No. FHC/L/CS/760/2026, filed by the Wireless Application Service Providers Association of Nigeria (WASPAN).
As a law-abiding public institution, FCCPC remains bound by the court order to suspend enforcement of the regulation pending the determination of the substantive case by the court which has been fixed for July 20, 2026 for further hearing.
The Commission remains committed to pursuing all lawful processes in respect of that matter while complying fully with the orders of the Court.
Ondaje Ijagwu
Director, Corporate Affairs
