FCCPC Denies Approving 48 New Loan Apps

Nigeria’s apex consumer watchdog, the Federal Competition and Consumer Protection Commission (FCCPC), has completely debunked viral media reports claiming it recently approved 48 new digital loan applications.

The false reports, which circulated under headlines like *“FCCPC Approves 48 More Loan Apps, Raises Licensed Digital Lenders in Nigeria to 505,”* suggested a major expansion in the country’s regulated fintech space.

However, the FCCPC issued an official statement dismissing the claim as misleading, entirely false, and out of line with its current legal standing.

The real story boils down to an ongoing legal freeze. The commission revealed it cannot issue any new licenses due to a binding **ex parte order from the Federal High Court**.

This court injunction has temporarily halted the implementation of the *Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025*.

As a law-abiding institution, the FCCPC is complying fully with the judicial restraint pending further court proceedings.

Tech consumer platforms and the general public are strictly advised to ignore the fake list and rely solely on updates published via official FCCPC channels.