FCCPC extends registration deadline for digital money lenders - Punch Newspapers

Chief Executive Officer, FCCPC, Babatunde IrukeraThe Federal Competition and Consumer Protection Commission on Friday announced the extension of the deadline for the registration of online money lenders.

The Chief Executive Officer of the commission, Babatunde Irukera, in a statement made available to The PUNCH said the process has been extended to March 27, 2023. He stated that the extra time was to ensure the registration of Digital Money Lenders whose registration was still in process and to prevent significant market disruptions.

It is the third time the commission has postponed the deadline for registration since it enforced compulsory registration in August 2022. The statement read, “On December 6, 2022, in furtherance of the collaboration of the Inter-Agency Joint Task Force, the Federal Competition and Consumer Protection Commission extended the deadline for the registration of Digital Money Lenders to January 31, 2023.

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