The deadline for the registration of Digital Money lenders, DMLs, has been extended by the federal government.
This is contained in a statement on Friday by the Federal Competition and Consumer Protection Commission, FCCPC, Executive Vice Chairman/Chief Executive Officer, Babatunde Irukera.
The commission stated that the announcement comes after several DMLs failed to complete their documentation.
It added that the extension would last till 27th March 2023 to prevent market disruption.
“This was to ensure the registration of DMLs whose registration was still in process and to prevent significant market disruptions.
“The Commission noted, however, that several DMLs have not yet provided all relevant documentation to complete their registration process. To this end, the Commission is further extending the registration deadline to Monday, March 27, 2023”, the EVC stated.
The Commission on 6th December 2022 extended the registration to January 31, 2023.