RismadarVoice Reporters, June 28, 2026
The Federal Competition and Consumer Protection Commission (FCCPC) has dismissed reports claiming it approved 48 additional digital loan applications, increasing the number of licensed lenders in Nigeria to 505.
In a statement released on Sunday, the Commission described the report as false and misleading, stressing that it has not granted any new approvals or licences for digital lending.
The FCCPC explained that it is complying with a Federal High Court order restraining the implementation of the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, pending the outcome of legal proceedings.
It urged the public, industry stakeholders and media organisations to disregard the report and rely only on information published through its official communication channels.
The Commission reaffirmed its commitment to obeying court orders and ensuring transparency in its regulatory activities.
It also noted that this is not the first time it has debunked false reports regarding approvals for digital loan operators.
