FCCPC unveils regulated list as government tightens rules on digital lending to protect consumers and ensure transparency in telecom credit services.
The Federal Government of Nigeria, through the Federal Competition and Consumer Protection Commission (FCCPC), has released an updated list of companies approved to offer airtime and data borrowing services in the country.
The move is part of efforts to regulate the growing digital lending ecosystem, especially services that allow telecom subscribers to access airtime or mobile data on credit and repay later.
According to the FCCPC, only companies that have met strict compliance requirements, including consumer protection standards, transparency rules, and data privacy guidelines, are allowed to operate in this space. The approval is aimed at protecting Nigerians from unregulated operators and ensuring fair practices in the telecom credit market.
The commission explained that airtime and data lending services fall under digital credit services and must now operate under the new Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations introduced to strengthen oversight and accountability in the sector.
As part of the regulatory framework, telecom operators and fintech companies offering such services are required to obtain proper licensing, register with the FCCPC, and comply with consumer protection rules. This includes ensuring clear loan terms, fair repayment conditions, and ethical debt recovery practices.
The development comes amid ongoing reforms in Nigeria’s digital lending space, where the government has intensified monitoring of loan apps and credit services to curb abuses, data privacy violations, and exploitative lending practices.
Recently, major telecom operators such as MTN Nigeria and Airtel Nigeria temporarily suspended their airtime and data borrowing services to align with the new regulatory requirements, pending full compliance approval from the authorities.
The FCCPC has reiterated its commitment to ensuring that only verified and responsible operators remain active in Nigeria’s digital credit ecosystem, while encouraging innovation that protects consumers and supports financial inclusion.
The Commission also urged Nigerians to verify any airtime or data lending service before use and report suspicious or unlicensed operators for appropriate action
