The Federal Competition and Consumer Protection Commission (FCCPC) has dismissed reports claiming it approved 48 additional digital loan applications, describing the publication as false and misleading.
In a statement released on its official X account on Sunday, the Commission clarified that it has not granted any new licences or approvals to digital lenders under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.
According to the FCCPC, it is fully complying with an ex parte order of the Federal High Court, which restrains the implementation of the regulations pending the determination of an ongoing legal case.
“The publication is false, misleading and does not represent the position or actions of the Commission,” the statement read.
The Commission explained that the court order prevents it from implementing the 2025 regulations, making any claims of recent approvals entirely inaccurate.
It therefore urged members of the public, media organisations, and industry stakeholders to disregard the report and rely solely on information published through its official communication channels.
The FCCPC also reaffirmed its commitment to upholding court orders and ensuring transparency in its regulatory activities.
This is not the first time the Commission has debunked similar claims. Earlier in June, it denied reports alleging that it had approved nine fintech companies to participate in Nigeria’s airtime credit market, reiterating that the regulatory framework remains suspended following the court’s interim injunction.
The suspension stems from a suit filed by the Wireless Application Service Providers Association of Nigeria (WASPAN), after which the Federal High Court in Lagos granted an interim injunction on April 15, 2026, halting the implementation and enforcement of the DEON Consumer Lending Regulations 2025 until further proceedings.
