The Federal Competition and Consumer Protection Commission (FCCPC) has denied reports that it has approved 48 more loan apps, bringing the total licensed digital lenders in Nigeria to 505.
- +FCCPC denies approving 48 loan apps, rejects 505 lenders’ claim
The clarification is contained in a statement issued by the commission on its official X (formerly Twitter) account on Sunday, June 28, 2026.
The clarification is contained in a statement issued by the commission on its official X (formerly Twitter) account on Sunday, June 28, 2026.
The FCCPC insisted that the report is false, misleading and does not represent the position and action of the commission.
FCCPC in the statement pointed out that it is complying with a Federal High Court order which restrained the implementation of the Digital Electronic, Online and Non-Traditional Consumer Lending registration, 2025 pending further proceedings.
FCCPC in the statement said, ‘’The attention of the Federal Competition and Consumer Protection Commission (FCCPC) has been drawn to a publication titled “FCCPC Approves 48 More Loan Apps, Raises Licensed Digital Lenders in Nigeria to 505.” The publication is false, misleading and does not represent the position or actions of the Commission.
‘’The FCCPC is a law-abiding institution and is fully complying with the ex parte Order of the Federal High Court restraining the implementation of the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 pending further proceedings.
‘’Consequently, the Commission has not granted any new approvals or licences pursuant to those Regulations. Any publication suggesting that the Commission recently approved additional digital lenders under the Regulations is entirely false.’’
