FCCPC dismisses claims it approved 48 new loan apps, says court order blocks licensing
By Aboki Forex —
The Federal Competition and Consumer Protection Commission (FCCPC) has denied reports that it approved 48 new digital loan applications. The regulator said no new licences have been issued to digital lenders in Nigeria.
In a statement on Sunday, the FCCPC described the reports as false and misleading. It urged the public to ignore the publication and rely only on official information from its channels.
The commission said it has not granted any approvals under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025. It explained that a court order has suspended the implementation of those regulations.
“The publication is false, misleading and does not represent the position or actions of the Commission,” the FCCPC stated.
The regulator said it is bound by an ex parte order from the Federal High Court. That order restrains the enforcement of the 2025 lending regulations until the case is decided.
“As a law-abiding institution, the FCCPC is fully complying with the order of the court,” the statement noted.
Any report suggesting the commission recently licensed additional digital lenders is inaccurate. The FCCPC advised the public, media, and fintech stakeholders to ignore the publication.
The commission repeated its commitment to transparency and accurate information. It also encouraged Nigerians to verify any news about its activities through official sources.