REGISTRATION OF DIGITAL LENDERS WITH FEDERAL COMPETITION AND CONSUMER COMMISSION (FCCPC) IN NIGERIA

The Federal Competition and Consumer Protection Commission (“FCCPC”) has in the exercise of its powers under its enabling law, ventured into the regulation of digital lending business in Nigeria. Recently, in exercise of the powers conferred upon it by sections 17, 18 and 163 of the Federal Competition and Consumer Protection Act, 2018 (“the FCCP Act”), and all other powers enabling it in that behalf, the FCCPC issued the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (“Guidelines for Digital Lending 2022”). According to FCCPC, the Guidelines for Digital Lending 2022 was developed and adopted by the Joint Regulatory … Continue reading REGISTRATION OF DIGITAL LENDERS WITH FEDERAL COMPETITION AND CONSUMER COMMISSION (FCCPC) IN NIGERIA