The Federal Competition and Consumer Protection Commission (FCCPC) has approved five companies to operate as licensed airtime and data lenders in Nigeria, following the suspension of such services by all major mobile network operators across the country.
According to reports, the move comes after new regulatory directives aimed at restructuring the digital lending ecosystem and strengthening consumer protection in the telecommunications sector.
Major operators including MTN Nigeria and Airtel Nigeria had earlier announced the suspension of their airtime and data advance services. Subsequent checks also confirmed that Globacom and 9mobile have similarly halted the services, effectively making the suspension a unified industry-wide action.
The FCCPC explained that the decision is part of its broader regulatory framework for digital lending, which seeks to ensure that credit-related services are properly licensed, transparent, and compliant with consumer protection standards.
Under the new arrangement, telecom operators will no longer provide airtime loans directly but will instead work within a regulated structure involving approved third-party providers.
The Commission has now licensed five firms to take over airtime and data lending services, ensuring continuity for subscribers while introducing stricter oversight of lending practices, charges, and recovery methods.
Industry stakeholders say the development marks a significant shift in Nigeria’s telecom and digital credit landscape, as it separates lending activities from direct network operations. While some users may experience short-term disruption, analysts believe the new framework will improve accountability and reduce exploitative lending practices.
The FCCPC further noted that the reforms are part of ongoing efforts to create a safer and more structured financial technology environment for Nigerian consumers.
The transition is expected to be closely monitored as the newly licensed firms begin operations under regulatory supervision.
