The Federal Competition and Consumer Protection Commission (FCCPC) has published an updated register of approved digital loan applications for 2026. This move is part of the government's effort to regulate Nigeria’s fast-growing digital lending sector and protect consumers from unlicensed and predatory lenders.
The Commission confirmed that over 400 loan applications from various companies have been fully approved after meeting its compliance requirements. The published list includes well-known platforms such as FairMoney, Carbon, Branch, Renmoney, and over 390 others. The approval is aimed at ensuring transparency, safeguarding borrower data, and promoting responsible lending practices.
In a related development, the FCCPC recently blacklisted 45 illegal loan apps for failing to comply with the Digital Lending Regulations. These unlicensed apps have been associated with harassment, data privacy violations, and exploitative lending terms.
By distinguishing between compliant and illegal operators, the FCCPC aims to foster a safer and more reliable fintech environment. Consumers are advised to only use services from the approved list to avoid risks and ensure their rights are protected under Nigerian law.
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