FAKE NEWS ALERT: FCCPC Disclaims Purported Approval of 48 New Loan Apps, Cites Subsisting Federal High Court Injunction

ABUJA, NIGERIA — The Federal Competition and Consumer Protection Commission (FCCPC) has formally moved to neutralize a misleading media narrative gaining traction within Nigeria's financial technology and digital banking ecosystem.

​In an official public disclaimer—the text of which is preserved in the file the Commission categorically declared a trending article titled "FCCPC Approves 48 More Loan Apps, Raises Licensed Digital Lenders in Nigeria to 505" as entirely false, unverified, and a complete misrepresentation of its current administrative actions.

The apex regulatory body explained that the false report completely ignores current judicial realities. Far from expanding its registry of approved Digital Money Lenders (DMLs), the Commission is legally constrained by the Nigerian judiciary.

​The Restraining Order: The FCCPC is fully complying with a subsisting ex parte Order issued by the Federal High Court.

​The Affected Framework: This specific judicial directive explicitly restrains the apex regulator from implementing or enforcing the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.

​The Practical Impact: Because the Commission operates strictly under the rule of law, it has not granted—and cannot grant—any fresh operational licenses or approvals under the disputed 2025 regulatory framework until the court processes run their full course.

The proliferation of automated lending applications has generated intense public interest due to past challenges surrounding data privacy and predatory debt recovery tactics. However, the FCCPC notes that fabricating regulatory approvals compromises market integrity and misleads vulnerable consumers.

​"Any publication suggesting that the Commission recently approved additional digital lenders under the Regulations is entirely false," the agency stated unyieldingly

 To guard against financial misinformation and double-dipping by fraudulent, unregistered applications, the FCCPC has directed all industry participants, tech platforms, payment gateways, and media correspondents to exercise extreme caution.

​Moving forward, the public is strongly advised to disregard speculative third-party lists and rely exclusively on the updated registries and compliance rosters published directly through the FCCPC's official website and verified communication channels. The battle to sanitize the digital lending space remains active, but it will be executed strictly within the parameters of judicial clearance and absolute institutional transparency.