MTN Nigeria Communications PLC has suspended its airtime and data lending service known as Xtratime. The company says the temporary move follows new regulatory requirements introduced by the Federal Competition and Consumer Protection Commission.
In a corporate disclosure to the Nigerian Exchange, the company’s Secretary, Uto Ukpanah, explained that the directive is linked to the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations issued in 2025. The framework sets new compliance and licensing conditions for providers of digital credit services in the country.
MTN Nigeria Communications PLC noted that the Xtratime service allows eligible prepaid subscribers to borrow airtime or data and repay on their next recharge. The company assured customers that other channels for purchasing airtime and data remain available during the suspension and added that the move is not expected to significantly impact its earnings.
Also Read: FCCPC Sets January Deadline for Full Compliance with Digital Lending Rules
The Federal Competition and Consumer Protection Commission, led by Chief Executive Officer Tunji Bello, requires all digital lenders to register under the new regulations. The commission has set a deadline for compliance and warned that operators who fail to meet the requirements may face further regulatory action.
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