Nigeria: Digital, Electric, Online, or Non-Traditional Lending Regulations including data protection regulation enters into force

On 5 January 2026, the Digital, Electric, Online, or Non-Traditional Lending Regulations enter into force. The Regulations apply to all lenders and providers (including their partners and collaborators) offering unsecured digital or electronic loans or advances to consumers in Nigeria, regardless of their physical location, if their business operations extend beyond a single state. Under the Regulations, lenders are required to fully adhere to the Nigeria Data Protection Act of 2023 and all other relevant data protection and cybersecurity regulations. Additionally, they must implement all subsidiary enactments and sector-specific rules related to data privacy and security. The Regulations also provide every consumer with the right to request a statement detailing their service utilisation history. The lender must provide this statement to the consumer within 24 hours of receiving the request.