FCCPC Refutes Claims of Approving 48 New Digital Loan Apps
The Federal Competition and Consumer Protection Commission has dismissed reports that it recently approved 48 additional digital lending platforms. In a statement on its official social media channel, the commission said no new licences have been issued. It noted that the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 remain suspended by a Federal High Court injunction. The FCCPC urged the public and media to ignore false reports and rely only on information from its authorised communication channels. It reiterated its commitment to comply with court orders and provide accurate updates on digital lending approvals.
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