In a decisive move to clean up Nigeria's digital lending space, the Federal Competition and Consumer Protection Commission (FCCPC) has escalated its regulatory oversight. The commission has placed a significant number of loan applications under heightened scrutiny while removing others from its register.
Regulatory Crackdown on Digital Lenders
The FCCPC has placed 103 digital loan applications on its regulatory watch list, as disclosed in an update on its official website. Concurrently, the commission has delisted 45 other applications from its approved roster. This action, published on January 11, 2026, forms a core part of the federal government's intensified efforts to sanitize the country's fast-growing but often problematic online lending market.
The primary drivers for this regulatory push are mounting consumer complaints concerning data privacy violations, abusive debt recovery practices, and operations by unlicensed entities. The digital lending sector has expanded rapidly in Nigeria, fueled by limited access to traditional bank credit and high demand for quick loans from individuals and small businesses. However, this growth has been marred by widespread reports of harassment, unauthorized access to personal data, and non-transparent loan terms.
Understanding the Watch List and Delistings
Inclusion on the FCCPC's watch list does not automatically imply that an app has engaged in wrongdoing. Instead, it signals that the commission has identified unresolved regulatory concerns that require attention. Apps on the list are under heightened scrutiny and are required to address specific compliance gaps within a stipulated timeframe. Failure to rectify these issues could lead to further enforcement actions, including permanent delisting.
Some of the notable loan apps currently on the regulatory watch list include:
- CashLawn App
- EasyNaira App
- Crediting App
- Yoyi App
- Nut Loan App
- CashPal App
- NairaEasy Gist Loan App
- Camelloan App
- MoneyTree
- Finance Made Easy App
Among the apps that have been delisted are WeCredit, Hen Credit Loan App, Cash Door App, Joy Cash, EagleCash App, LuckyLoan Personal Loan App, and GetLoan App. The full list of all 103 watched and 45 delisted apps is available on the FCCPC's official portal.
Consumer Protection and Alternative Credit Schemes
The FCCPC has reiterated its commitment to protecting Nigerian consumers from predatory financial practices. Authorities are advising the public to exercise caution and verify the regulatory status of any digital loan app on the FCCPC website before engaging with their services. Consumers who experience abusive conduct, such as harassment or data privacy breaches, are urged to report these incidents through the commission's official complaint channels.
In a related development aimed at providing responsible credit alternatives, the Nigerian Consumer Credit Corporation (CREDICORP) has launched the YouthCred scheme. This national initiative allows young Nigerians to access loans of up to N5 million to help actualize their business ideas and personal projects. Ayodele Olawande, the Minister of Youth Development, emphasized that the scheme is designed for all youths, irrespective of their status, encouraging them to bring their innovations to life.
This two-pronged approach—stricter regulation of rogue lenders and the promotion of structured, government-backed credit—highlights the federal government's strategy to foster a healthier, more responsible financial ecosystem for Nigerians in the digital age.
