The Federal Competition and Consumer Protection Commission has approved five companies to operate as airtime and data lenders following the suspension of such services by mobile network operators. Operators, including MTN Nigeria and Airtel Nigeria, had earlier announced the halt, while checks confirm that Globacom and 9mobile have also complied, making the decision industry-wide.
The Commission named Total Tim Nigeria Limited, Rane Interactive Media CLS Limited, Mode NG Applications Limited, Cloud Interactive Associate Limited and Coverage Broadband Limited as the approved firms. It said the companies met the requirements under the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations 2025, which govern digital lending operations in the country.
The FCCPC explained that the new framework is designed to promote fairness and transparency in the lending market. It noted that some telecom operators failed to comply within the stipulated timelines despite extensions granted after the policy took effect in July 2025. The regulator added that the rules are intended to open the market to more participants and ensure adherence to the provisions of the Federal Competition and Consumer Protection Act 2018.
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Authorities say the suspension by telecom operators is linked to compliance concerns and broader regulatory pressures within the sector. Despite the development, services such as airtime and data purchases are expected to continue through existing channels. The Commission had earlier set an October 31, 2025, deadline for digital lenders to register, with the number of approved operators rising significantly ahead of the cutoff.
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