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The FCCPC denied reports claiming it had approved 48 additional digital loan applications and said no new licences had been issuedThe commission stated that it remained bound by a Federal High Court order suspending the implementation of the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations 2025The regulator urged the public and media organisations to disregard the report and rely only on information released through its official communication channels
The Federal Competition and Consumer Protection Commission (FCCPC) has dismissed reports claiming it recently approved 48 additional digital loan applications, describing the publication as inaccurate and inconsistent with its current regulatory position.
The commission said the report, which alleged that the number of licensed digital lenders in Nigeria had increased to 505, did not reflect its actions.
The FCCPC dismissed reports claiming it approved 48 additional digital loan applications. Photo: courtneykSource: Facebook
It maintained that no new approvals or licences had been granted under the
