The Federal Competition and Consumer Protection Commission (FCCPC) has approved four additional companies to provide airtime and data borrowing services in Nigeria. This move comes amid growing demand for such services due to economic challenges.
Newly Approved Companies
The FCCPC released a list of nine companies now cleared to operate as credit service providers. The approved firms include:
- Total Tim Nigeria Limited
- Rane Interactive Medien CLS Limited
- Mode NG Applications Nigeria Limited
- Cloud Interactive Associate Limited
- Coverage Broadband Limited
- ERL Telecoms Service Limited
- Mrs Innovation Nigeria Limited
- Fonyou Technologies Nigeria Limited
- Technotrends Platforms Nigeria Limited
These companies join existing providers in offering services that allow customers to borrow airtime or data bundles, with repayment deducted from future recharges.
FCCPC Dismisses Ban Rumors
The commission also clarified reports that it had banned airtime and data borrowing services. In a statement, FCCPC said no order was issued to telecom operators to shut down such services. It described the rumors as false and originating from the July 2025 implementation of DEON Consumer Lending Regulations, designed to prevent exploitation.
The FCCPC stated: "The attention of the Federal Competition and Consumer Protection Commission has been drawn to a series of newspaper publications and a viral anonymous post on social media seeking to create the impression that the Commission cancelled, shut down, or banned airtime borrowing or data advance services in Nigeria. Those claims are incorrect."
The regulations were introduced following complaints about unfair charges, mysterious deductions, aggressive recovery methods, lack of transparency, and poor accounting procedures in digital lending services.
Background
The approval list comes after Airtel and MTN temporarily suspended their airtime borrowing services, leading to speculation about a ban. The FCCPC's clarification aims to reassure consumers that the service remains legal and regulated.
Earlier, the Central Bank of Nigeria (CBN) also released an exposure draft proposing a Mediation and Dispute Resolution Panel to handle loan disputes, further strengthening the financial ecosystem.
