Economy
THE Federal Competition and Consumer Protection Commission (FCCPC) says it has resumed the implementation of the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
A statement by the Commission in Abuja on Monday, said the resumption followed the delivery of a court judgement on a suit instituted by the Wireless Application Service Providers Association of Nigeria Ltd./Gte (WASPAN).
WASPAN had challenged the Commission’s authority to issue and implement the DEON Regulations.
The FCCPC said that upon being served with the court’s interim order in April 2026, the Commission immediately suspended implementation and enforcement of the Regulations consistent with its commitment to the rule of law and respect for judicial authority.
The FCCPC’S Director of Corporate Affairs, Mr Ondaje Ijagwu, in a reaction to the judgment, said the Commission had maintained that the rule of law was fundamental to effective regulation and good governance.
According to him, now that the Court has affirmed the validity of the DEON Regulations and delivered judgment, the Commission will continue to discharge its statutory responsibilities faithfully, professionally and in accordance with the law.
”The DEON Regulations are designed to promote responsible lending, improve regulatory accountability, curb unfair and exploitative practices, and strengthen consumer protection in Nigeria’s digital lending market.
”Our objective has always been to ensure that innovation and financial inclusion flourish within a transparent, fair and accountable regulatory framework that inspires confidence among consumers, investors and responsible operators alike,” Ijagwu said. (NAN)
F.O
Tags: FCCPC Implementation of digital lending regulations