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Tag: FCCPC

Loan apps: FCCPC to address rising debt with new policy
Policy and Regulations

FCCPC fixes January 5 deadline for digital lenders’ compliance

The Federal Competition and Consumer Protection Commission has set Monday, January 5, 2026, as the deadline for all operators to achieve full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025. The regulations, which became effective on July 21, 2025, under the Federal Competition and Consumer Protection Act 2018, are designed to […]

Loan apps: FCCPC to address rising debt with new policy
News

Court strikes out FCCPC criminal charge against MTN executives

The Federal High Court in Abuja on Thursday struck out the criminal charge filed by the Federal Competition and Consumer Protection Commission against MTN Nigeria Communications Plc and its top officials. Justice Hauwa Yilwa struck out the suit in a ruling, following an application for the withdrawal of the case by FCCPC’s lawyer, I. O. […]

Business

Loan app registrations hit 492 as N100m penalty looms

The number of officially registered digital lenders, commonly referred to as loan apps, has risen sharply in recent months, reaching 492 in October as more companies sought to avoid a N100 million penalty. This surge follows the Federal Competition and Consumer Protection Commission rolling out new regulations for all digital lenders in Nigeria. Under the […]

Business

FCCPC hails CBN’s 48-hour ATM refund rule for bank customers

The Federal Competition and Consumer Protection Commission has endorsed the Central Bank of Nigeria’s new draft guidelines requiring banks to refund customers for failed Automated Teller Machine transactions within 48 hours. In a statement issued on Monday, the FCCPC’s Director of Corporate Affairs, Mr. Ondaje Ijagwu, said the Commission welcomes the policy, noting that it […]

Business

Banks, Fintechs top consumer complaints list – FCCPC report

Nigeria’s consumer protection watchdog says banks and fintechs remain the leading sources of customer grievances, with over 4,600 complaints filed between March and August 2025. The Federal Competition and Consumer Protection Commission, in a sectoral report released Thursday, said it secured more than N10bn ($6.7m) in refunds for affected consumers during the five-month period. The […]

Loan apps: FCCPC to address rising debt with new policy
Business

FCCPC recovers N10bn for consumers from banks, fintechs, others

The Federal Competition and Consumer Protection Commission has announced the total recoveries of N10 billion for aggrieved consumers following complaints against banks, fintechs, and others. This was disclosed in a statement signed by Ondaje Ijagwu, FCCPC, Director, Corporate Affairs, on Thursday. The development follows updated data on consumer complaints received and resolved across key sectors […]

Oil and Gas

FCCPC, NMDPRA pledge to protect consumers in petroleum sector

The Federal Competition and Consumer Protection Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority have committed to safeguarding consumer interests in the petroleum sector. The pledge was made during a courtesy visit on Thursday, when FCCPC CEO Tunji Bello received NMDPRA CEO Farouk Ahmed, the commission said in a statement. During the meeting, […]

Business

FCCPC pulls out of Dangote Refinery import licence case

The Federal Competition and Consumer Protection Commission has withdrawn its appeal against Dangote Petroleum Refinery and Petrochemicals FZE in the N100 billion import licence dispute. According to a notice filed at the Court of Appeal, Abuja, on August 26, 2025, the FCCPC dropped the case after Dangote Refinery discontinued its import licence suit at the […]

10 Nigerian states with cheapest healthy diets
Agribusiness

Ripening fruits with harmful chemicals highly toxic, FCCPC warns Nigerians

The Federal Competition and Consumer Protection Commission has issued a stern warning to Nigerians against consuming fruits artificially ripened with harmful chemicals, especially calcium carbide. The alert came on Monday during a one-day sensitisation programme on food quality standards held in Ado-Ekiti. Executive Chairman of FCCPC, Mr. Olatunji Bello, represented by the Director of Quality […]

News

FCCPC regulation on loan interest rates worries digital lenders

Digital lenders in Nigeria have expressed concern over the Federal Competition and Consumer Protection Commission’s latest plan to regulate their interest rates. The move follows growing complaints from Nigerians that loan apps charge excessively high rates. Under the newly introduced Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations, 2025, the FCCPC announced it will begin […]

Nigeria’s non-oil exports rise to $1.79bn in Q1 2025 – NEPC
Business

Nigeria’s trade surplus rises over 50% amid exports surge

Nigeria’s trade surplus surged by 51.07% to N5.17 trillion in the first quarter of 2025, up from the previous quarter, driven by robust export growth. This figure is according to the National Bureau of Statistics Foreign Trade Statistics report released Wednesday. Total merchandise trade reached N36.02 trillion, a 6.19% increase from N33.92 trillion in Q1 […]

Business

FCCPC unveils taskforce to combat counterfeit products nationwide 

The Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission, Mr. Tunji Bello, has inaugurated the pioneer team of the Joint Market Monitoring Taskforce. The taskforce is set up to address the growing challenge of product counterfeiting across the country. This was disclosed by Bello at the inauguration of […]

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