The Federal Competition and Consumer Protection Commission (FCCPC) has approved five companies to offer airtime and data lending services in Nigeria. The approved firms are Total Tim Nigeria Limited, Rane Interactive Medien, CLS Limited, Mode NG Applications Limited, Cloud Interactive Associate Limited, and Coverage Broadband Limited. This move follows the suspension of such services by major telecom operators, including MTN, Airtel, Globacom, and 9mobile (now T2), due to non-compliance with the Digital Consumer Lending Regulations introduced in 2025. The FCCPC stated that the selected companies met the regulatory requirements designed to ensure fairness and transparency in digital lending. Telecom operators were given until January 5, 2026, to comply after an initial July 2025 deadline was extended. An official from the Nigeria Data Protection Commission confirmed that some operators failed to meet the rules despite the extension. While the telecoms have paused their lending services, they will still partner with the approved lenders to deliver airtime and data on a revenue-sharing basis. The popular *303# borrowing code no longer works, affecting users who relied on it for emergency calls. MTN and Airtel described the suspension as temporary and assured customers that airtime and data remain available through other platforms.
The FCCPC has approved new lenders while telecoms that built the 303# service from scratch now stand sidelined despite their existing customer reach. Nigerians who used 303# to make urgent calls during cash shortages can no longer access the service, even as the new operators begin from zero. The disruption hits users directly, with no guarantee the approved firms can replicate the speed or ease of the old system. The telecoms' exit from direct lending leaves a gap that may deepen reliance on less familiar platforms.
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