The Federal Competition and Consumer Protection Commission (FCCPC) has approved five companies to provide airtime and data lending services in Nigeria following the suspension of the service by major telecom operators.
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.
According to the FCCPC, the companies complied with the requirements under the Digital Consumer Lending Regulations introduced in 2025, which aim to improve transparency, accountability, and fairness in digital lending services.
The development follows the suspension of airtime and data lending by major telecom operators, including MTN Nigeria and Airtel Nigeria. Other providers such as Globacom and 9mobile (now T2) have also halted the service, resulting in a sector-wide withdrawal.
Officials from the Nigeria Data Protection Commission stated that some telecom operators did not fully comply with the updated regulatory framework. Operators were initially given 90 days from July 2025 to comply, with the deadline later extended to January 5, 2026, but compliance was still not achieved.
The FCCPC had earlier set October 31, 2025, as the deadline for all digital lenders to register or face a ₦100 million penalty before extending the timeline.
Under the new arrangement, the approved lending companies will partner with telecom operators to provide airtime and data loans, with revenue expected to be shared between both parties.
The suspension has disrupted access for many Nigerians who depend on airtime borrowing during emergencies, particularly through the widely used *303# code, which is currently inactive.
Some users expressed concern that the suspension could negatively affect low-income earners who rely on the service for urgent communication needs.
However, telecom operators, including MTN and Airtel, have assured customers that the suspension is temporary and that airtime and data services remain accessible through alternative channels while regulatory issues are being resolved.
