FAKE NEWS ALERT: FCCPC Disclaims Purported Approval of 48 New Loan Apps, Cites Subsisting Federal High Court Injunction
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a definitive rejoinder debunking a viral publication claiming it approved 48 additional digital money lending applications. Clarifying its regulatory stance, the apex consumer protection agency revealed that it remains strictly bound by a Federal High Court ex parte injunction restraining the implementation of its 2025 Consumer Lending Regulations. Consequently, the Commission has frozen all fresh licensing exercises, warning the public and digital ecosystem players to cross-check market updates only via verified government communication portals.