Nigeria FCCPC Approves 9 Airtime Credit Providers as MTN, with 95 Million Users, Still Holds Back
Updated
Updated · Business Insider Africa · Jun 6
Nigeria FCCPC Approves 9 Airtime Credit Providers as MTN, with 95 Million Users, Still Holds Back
3 articles · Updated · Business Insider Africa · Jun 6
Summary
Nine companies won FCCPC approval to offer airtime and data credit in Nigeria, reopening a service disrupted for months after telecom operators halted offerings for millions of subscribers.
The approvals came even after the FCCPC suspended enforcement of its 2025 lending rules, leaving unresolved whether airtime credit is consumer lending or a telecom value-added service.
Airtel Nigeria and Globacom have restored airtime credit, but MTN Nigeria — the biggest operator, with more than 95 million subscribers — had not resumed the service as of publication.
Market size estimates vary sharply: FCCPC-linked figures put annual outflows near N3 trillion, while industry groups estimate N300 billion to N400 billion, underscoring the stakes in the regulatory fight.
Analysts and industry leaders say prolonged overlap between the FCCPC and NCC could dent investor confidence and shape how African markets regulate digital financial products.