FCCPC approves airtime lending companies as telecom operators suspend services under new digital lending regulations in Nigeria
The Federal Competition and Consumer Protection Commission Federal Competition and Consumer Protection Commission has approved five companies to provide airtime and data lending services in Nigeria following the suspension of the service by major telecom operators.
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The approved firms include Total Tim Nigeria Limited, Rane Interactive Medien CLS Limited, Mode NG Applications Limited, Cloud Interactive Associate Limited, and Coverage Broadband Limited.
The development comes after leading telecom operators such as MTN Nigeria, Airtel Nigeria, Globacom and 9mobile suspended airtime and data lending services due to new regulatory requirements.
According to the FCCPC, the newly approved companies met the conditions under the Digital Consumer Lending Regulations introduced in 2025, designed to improve transparency and fairness in digital lending practices.
The Nigerian Data Protection Commission noted that telecom operators were earlier given a compliance deadline, which was extended to January 5, 2026, but were unable to fully meet the requirements.
As a result, operators opted to suspend the service while reviewing the new framework.
However, they are expected to continue playing an indirect role by partnering with approved lenders under a revenue-sharing model.
The suspension has disrupted access for many Nigerians who rely on short-term airtime loans, especially during emergencies. The widely used *303# borrowing code is currently inactive.
While telecom companies have described the move as temporary, customers have expressed concern over the impact on daily communication needs.
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The FCCPC had earlier warned that unregistered digital lenders would face penalties, reinforcing its push for stricter oversight of Nigeria’s fast-growing digital credit ecosystem.
