The Federal Competition and Consumer Protection Commission (FCCPC) has granted full approval to 48 additional loan app companies that previously operated under conditional approval.
According to the Commission’s latest update, the total number of fully approved digital lending companies in Nigeria has now increased to 505.
These companies have met all the requirements set by the FCCPC and are expected to follow its regulations, including ethical debt recovery practices.
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The Commission has repeatedly warned against the harassment, intimidation, and threats often associated with some loan operators.
As of January 2026, 457 digital lenders had received full approval. The latest update shows that all companies previously operating under conditional approval have now either gained full approval or been removed from that category.
In addition to the 505 approved lenders, the FCCPC has granted registration waivers to 32 digital lending companies already licensed by the Central Bank of Nigeria (CBN).
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