After Nigeria’s largest telecom operators MTN and Airtel temporarily suspended airtime lending last week, new players have swooped in to take their place—at least temporarily.
On Wednesday, the Federal Competition and Consumer Protection Commission (FCCPC), Nigeria’s consumer protection watchdog, approved five companies to operate airtime and data lending services: Total TIM Nigeria Limited, Rane Interactive Medien CLS Limited, Mode NG Applications Nigeria Limited, Cloud Interactive Associate Limited, and Coverage Broadband Limited.
The move comes as Globacom and T2, which round up the four telcos operating in Nigeria, have also quietly paused their own lending services, according to our checks.
Will telcos resume airtime lending? Airtime lending has not been scrapped; it is being reorganised. Under the FCCPC’s 2025 regulations, services like MTN’s Xtratime are now classified as consumer credit, requiring proper licencing, disclosure of fees, and clearer accountability.
For users, the immediate question is what happens to existing debt. Telecom operators haven’t addressed this yet.
There is another wrinkle. The newly approved lenders, it is worth noting, do not yet have listed consumer-facing apps in the FCCPC’s disclosure, making it unclear how Nigerians can actually access these services for now.
Between the lines: This is opening the door to new competition. Telcos have long dominated airtime credit, but once they secure approval and return, they may find themselves sharing that space with licenced third-party lenders operating under stricter rules.
What is really happening? Airtime credit is being pulled into the formal lending system, where the business is clearer, and the players are easier to hold accountable.