The Coalition for Economic Fairness, a coalition of civil society organisations, has urged telecommunications companies and their foreign partners to fully comply with the Federal Competition and Consumer Protection Commission’s Digital Lending Regulations 2025 to protect Nigerian consumers and entrepreneurs.
According to a statement, the spokesperson for CEF, Nkechi Eze, speaking during a press briefing in Abuja on Tuesday, described the FCCPC framework as “a bold and necessary move to protect Nigerian consumers and entrepreneurs.”
Eze said, “For years, Nigerian consumers have been exploited through opaque lending systems that operate without oversight. The FCCPC is not stifling innovation; it is creating an environment where innovation thrives safely and fairly.”
She commended the FCCPC for prioritising consumer welfare, data privacy, and equitable market access, saying the new policy “guarantees that wealth created in Nigeria benefits Nigerians.”
She maintained that it is time for telecom operators to respect the law and collaborate with Nigerian fintech firms to build a more inclusive financial ecosystem.
The coalition noted that the new digital lending regulations would help dismantle monopolistic practices that have long affected the sector.
