- The federal government has released a list of approved companies licensed to offer airtime and data lending services
- The move comes amid regulatory tightening after MTN Nigeria and Airtel Nigeria suspended the service
- federal
- The FCCPC has clarified that airtime lending was not banned, but must comply with updated rules
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Federal Government, through the Federal Competition and Consumer Protection Commission (FCCPC), has published a list of approved companies licensed to provide airtime and data lending services in Nigeria.
The disclosure, issued under the registration framework for digital money lenders, includes firms cleared to operate airtime and data advance services through mobile applications.
Photo: Nurphoto
Source: Getty Images
The move is aimed at strengthening consumer protection, improving transparency, and ensuring compliance with new lending regulations.
According to the list, approved companies include:
Total TIM Nigeria Limited, Rane Interactive Medien CLS Limited, Mode NG Applications Nigeria Limited, Cloud Interactive Associate Limited, and Coverage Broadband Limited.
Some of the services operate through mobile platforms such as SUN, allowing users to access short-term airtime and data credit repayable later.
MTN, Airtel suspend data, airtime lending
The development comes amid broader regulatory tightening in Nigeria’s digital lending space.
On Thursday and Friday last week, Nigeria’s leading telecom operators, MTN Nigeria and Airtel Nigeria, announced the suspension of their long-standing airtime and data lending services following new compliance requirements.
The operators temporarily halted services such as Airtel’s airtime advance offering, citing the need to align with updated consumer lending rules.
However, both companies clarified that customers can still purchase airtime and data through standard recharge channels.
According to a report by TechCabal, telecom operators are currently reviewing new lending regulations issued by the Federal Competition and Consumer Protection Commission (FCCPC) in July 2025.
The new framework expands oversight to include any entity involved in digital or non-traditional consumer lending, bringing airtime and data advances under regulatory supervision and requiring operators to obtain appropriate licences.
Photo: mtn
Source: Getty Images
While the disruptions initially sparked confusion in the market, the FCCPC has denied banning airtime and data lending services in Nigeria, stating that recent suspensions were a result of operators’ failure to comply within the stipulated timeframe rather than a prohibition.
The Commission explained that the rules apply broadly to services involving repayable monetary value, including telecom credit products such as MTN’s Xtratime.
Airtel Nigeria, in its response, reaffirmed its commitment to regulatory compliance, transparency, and consumer protection, adding that it will continue to innovate within Nigeria’s evolving digital financial ecosystem.
Regulators say the new framework is designed to prevent abuse in the digital lending space, protect consumers from hidden charges and aggressive debt recovery practices, and ensure all providers operate under clear licensing requirements.
List of 45 Illegal Loan Apps in 2026
Earlier, Legit.ng reported that the Federal Competition and Consumer Protection Commission (FCCPC) had blacklisted 45 loan apps operating in Nigeria.
The affected platforms were declared non-compliant with the Digital Lending Regulations, with authorities warning that they pose risks to users, including harassment, misuse of personal data, and exploitative lending practices.
Source: Legit.ng
