Nigerian govt clarifies position on airtime market regulation
FCCPC Clarifies Regulatory Role in Digital Lending
The Federal Competition and Consumer Protection Commission (FCCPC) has reaffirmed that its authority over digital and non-traditional lending is confined to its regulatory responsibilities.
This statement, issued by Director of Corporate Affairs Ondaje Ijagwu, was released on Sunday in Abuja. It pertains to the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 (DEON Regulations).
The FCCPC has temporarily suspended the implementation and enforcement of these regulations due to an ex parte order from the Federal High Court in Lagos. This order is part of a legal dispute, identified as Suit No. FHC/L/CS/760/2026, initiated by the Wireless Application Service Providers Association of Nigeria (WASPAN).
Ijagwu emphasized that the FCCPC, as a law-abiding institution, is compelled to adhere to the court’s order regarding the suspension of the regulations until the case is resolved. He noted that a further hearing has been scheduled for July 20.
In response to media reports suggesting the FCCPC was involved in submitting the names of local fintech companies to the Presidency for participation in the digital lending market, Ijagwu clarified the Commission’s position. He stated that these companies are seeking to engage in lending activities to mitigate capital flight.
The FCCPC remains committed to adhering to all legal processes associated with the matter while ensuring compliance with court directives.
