RE: SUIT NO. FHC/L/CS/760/2026
Friday, May 22, 2026: The above captioned suit was filed by WASPAN challenging the DIGITAL, ELECTRONIC ONLINE OR NON-TRADITIONAL CONSUMER LENDING REGULATIONS 2025 (DEON REGULATIONS) made by the Commission.
The Commission has since been served with an Ex-parte order, of the Federal High Court sitting in Lagos, coram Hon. Justice A.L. Allagoa, made on the 15th day of April, 2026 restraining/suspending the implementation of the regulations.
As a law abiding institution, the Commission, in deference and in obedience to the rule of law, hereby suspends the implementation and the enforcement of the DEON REGULATIONS 2025. The Commission has also given its solicitors firm instructions to challenge the Order and the competence of the suit.
Ondaje Ijagwu
Director, Corporate Affairs
