Nigeria: CSOs Urge Telecom Operators to Adhere to FCCPC’s Digital Lending Regulations

The Coalition for Economic Fairness (CEF) has called on telecommunications companies and their foreign partnersto fully comply with the Federal Competition and Consumer Protection Commission (FCCPC) Digital Lending Regulations 2025, emphasizing the need to protect Nigerian consumers and promote fair competition in the digital finance ecosystem.

Speaking at a press conference in Abuja, CEF spokesperson Nkechi Eze described the FCCPC’s framework as “a bold and necessary move to protect Nigerian consumers and entrepreneurs.”

“For years, Nigerian consumers have been exploited through opaque lending systems operating without proper oversight. The FCCPC is not stifling innovation—it is fostering an environment where innovation can thrive safely and fairly,” Eze stated.

She commended the FCCPC for its commitment to consumer welfare, data privacy, and equitable market participation, noting that the new policy ensures that the wealth generated within Nigeria’s fintech ecosystem benefits Nigerians.

Eze further urged telecom operators to respect regulatory provisions and collaborate with local fintech firms to build an inclusive and transparent financial system.

The coalition highlighted that the Digital Lending Regulations would help curb monopolistic practices in the sector and enforce transparency and accountability, ensuring lending operations empower both consumers and small businesses.

“By enforcing transparency and accountability, the FCCPC is ensuring that lending practices not only protect consumers but also empower local businesses,” she added.

CEF also stressed that integrating Nigerian-owned intermediaries into lending partnerships will help retain value within the country and support national economic development.

“Stakeholders must collaborate in building a fair and resilient financial system that serves all Nigerians,” the coalition asserted.

As Nigeria’s digital lending industry continues to expand, CEF emphasized that compliance with FCCPC’s rules is critical for safeguarding consumer rights, promoting trust, and ensuring sustainable growth within the digital economy.

The coalition reaffirmed its commitment to advocating for consumer protection and fair market practices, stating that innovation in the financial sector must always uphold the rights and protections of Nigerian consumers.