The Federal Competition and Consumer Protection Commission (FCCPC) has approved five companies to provide airtime and data lending services in Nigeria.
This comes after telecom operators suspended these services due to new regulations.Nigeria market analysis
MTN and Airtel had already announced the suspension last week. Checks show that Globacom and 9mobile (now T2) have also stopped offering the service, making it a decision followed by all major telecom operators.
The FCCPC approved the following companies to take over the service:
Total Tim Nigeria Limited
Rane Interactive Medien CLS Limited
Mode NG Applications Limited
Cloud Interactive Associate Limited
Coverage Broadband Limited
According to the FCCPC, these companies met the requirements under the Digital Consumer Lending Regulations introduced in 2025. The goal of the regulation is to make digital lending fairer and more transparent.Nigeria market analysis
An official from the Nigeria Data Protection Commission said some telecom operators failed to follow the rules. They were given 90 days to comply starting in July 2025, and the deadline was later extended to January 5, 2026. However, they still did not meet the requirements.
Telecom companies say the new rules add to the many regulations they already face, especially since they are also regulated by the Nigerian Communications Commission. For now, they have decided to step back and observe.
Even though they have suspended the service, telecom operators will still be involved indirectly. The approved lenders will partner with them to provide airtime and data, and both sides will share revenue.
Impact on customers
The suspension has affected many Nigerians who rely on borrowing airtime in emergencies. The popular *303# code used for borrowing is no longer working.
Some users say the service was very helpful, especially when they had no money but needed to make urgent calls. They worry that stopping it will make things harder for people who depend on it.
Background
MTN and Airtel said the suspension is temporary and linked to the new lending rules. They assured customers that they can still buy airtime and data through other channels.
The FCCPC had earlier set October 31, 2025, as the deadline for all digital lenders to register or face a ₦100 million fine. The deadline was later extended to January 5, 2026 to allow more time for compliance.
