The Federal Competition and Consumer Protection Commission (“FCCPC”) has announced its decision to begin to receive applications for registration of new digital money lending companies in Nigeria. On August 18, 2022, the FCCPC, as part of its Joint Regulatory and Enforcement Task Force (“JRETF”), introduced a Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (“Digital Lending Guidelines”) as well as digital lending company registration procedure. The Digital Lending Guidelines was introduced to address complaints of privacy rights violations and other illegal debt recovery practices by some digital money lenders in Nigeria. By virtue of the Digital Lending Guidelines, … Continue reading FCCPC RESUMES PROCESSING OF APPROVAL FOR DIGITAL LENDING COMPANIES IN NIGERIA FROM 9TH JUNE 2023