DigitMonie Limited has secured approval from the Federal Competition and Consumer Protection Commission, FCCPC, to operate its digital lending platform, DigitMonie.com.

The approval, dated July 29, 2026, followed the company’s compliance with applicable registration and regulatory requirements under the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations 2025.

Founded in July 2025 by Odudu Akpan, Uche Festus, King Leonard and Ifiok Akpan, DigitMonie said the regulatory approval was part of efforts to establish a credible and responsible digital financial services business focused on addressing financing challenges facing small and medium-sized enterprises, SMEs.

The company said its decision to seek the approval was driven by the need to formalise its lending activities and operate within an established regulatory framework.

“The FCCPC approval represents an important step in formalising and strengthening our lending operations while building greater confidence among our customers and stakeholders,” DigitMonie said.

The company said its lending activities are primarily targeted at SMEs and businesses seeking financing for legitimate business purposes.

According to DigitMonie, its lending solutions are designed to support businesses with working capital, inventory purchases, cash-flow requirements, daily operations, order fulfilment and expansion opportunities.

“We want to support businesses that need capital to purchase inventory, maintain operations, fulfil orders, manage cash flow or take advantage of growth opportunities,” the company said.

DigitMonie said it has served 44 customers since its establishment and plans to expand its reach as it strengthens its lending infrastructure and operational capacity.

The company said the FCCPC approval would also reinforce its approach to responsible and transparent lending.

It said customers would be provided with clear information about financial products, including applicable terms, costs, repayment obligations and other relevant conditions.

“We believe customers should clearly understand the financial products they are accessing, including the applicable terms, costs, repayment obligations and other relevant conditions,” it said.

The company added that responsible lending involves more than providing credit, noting that it also includes clear communication, sustainable lending practices, protection of customer information and maintaining trust with customers.

DigitMonie said the process of securing the approval involved submitting relevant information and documentation for regulatory assessment by the FCCPC.

Following the review, the Commission confirmed that the company had met the applicable requirements under the regulatory framework and granted approval for the operation of DigitMonie.com.

The company said the regulatory process also helped align its operations and documentation with the expectations applicable to digital consumer lending businesses.

On its expansion plans, DigitMonie said it would focus initially on strengthening its lending infrastructure, improving internal processes and enhancing customer experience.

“Our immediate priority is to strengthen our lending infrastructure, improve our processes, enhance customer experience and responsibly increase our capacity to serve more SMEs,” the company said.

It added that technology and data would play a role in improving its lending processes, credit assessment, risk management and customer experience.

Beyond lending, DigitMonie said it plans to develop a broader digital financial services platform offering solutions around payments, savings, investments and other financial needs.

The company said its long-term ambition is to expand its services across Nigeria and eventually explore opportunities in other African markets.

“Our goal is simple: make access to financial solutions easier, more transparent and more useful for the people and businesses we serve,” DigitMonie said.