Nigeria: Order establishing interagency joint regulatory and enforcement task force on digital money lenders entered into force

On 11 March 2022, Nigeria established the Joint Regulatory and Enforcement Task Force (JRETF) to regulate digital money lenders (DMLs) and protect consumer data privacy rights. The JRETF includes several regulatory agencies such as the Federal Competition and Consumer Protection Commission (FCCPC), the Economic and Financial Crimes Commission (EFCC), the Central Bank of Nigeria (CBN), and the National Information Technology Development Agency (NITDA). Additionally, it collaborates with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the National Human Rights Commission (NHRC) to ensure comprehensive oversight and enforcement.