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Over the years, the growth of the Nigerian fintech ecosystem has spurred a range of financial product offerings. One such offshoot is the digital lending platforms or “loan apps” as they are commonly referred to by their users. These platforms enable consumers access instant retail loans without security or collateral.
7 October 25
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The proliferation of these digital lending platforms and the nature of their operations have drawn concerns and attracted regulatory scrutiny. In response to these concerns, the Federal Competition and Consumer Protection Commission (the FCCPC or the Commission) issued the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending 2022. Through these interim regulations, the FCCPC introduced a formal but provisional registration framework for digital lending platforms in the country.
Against the backdrop of the 2022 interim regulations, the FCCPC recently issued the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations 2025 (the DEON Regulations or Regulations) on 21 July 2025. The DEON Regulations introduce a comprehensive legal framework that addresses registration requirements, operational guidelines, consumer protection issues, predatory lending, and data privacy concerns in the digital lending space.
In this article, we examine some key provisions of the DEON Regulations, highlighting the implications for participants in the digital lending ecosystem.
Click Here to download and read the full alert.
Should you have any questions regarding the information in this article, please do not hesitate to contact Ajibola Asolo and Bukola Akinsulere.
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Contributors
- Alex Ifechukwu – Associate, ALN Nigeria | Aluko & Oyebode
- Ayomide Awoyemi – Associate, ALN Nigeria | Aluko & Oyebode