MTN Nigeria said it will temporarily halt its Xtratime service, which provides customers with advance airtime and data. The suspension follows the introduction of new lending rules by the Federal Competition and Consumer Protection Commission (FCCPC). MTN disclosed the decision in a filing to the Nigerian Exchange Limited on Thursday, stating that the pause is required to meet the regulator's requirements. The company did not give a timeline for when the service might resume. No further details on the specific FCCPC provisions or the impact on customers were provided in the filing.
MTN's decision to suspend Xtratime signals the telecom's swift alignment with the FCCPC's fresh lending directives. The regulator's move targets credit‑based services that have proliferated across the telecom sector, prompting operators to reassess products that extend short‑term credit to users. For Nigerians who depend on Xtratime to top up phones or access data on credit, the suspension removes a convenient financial bridge, especially for low‑income users who lack alternative credit options. This episode may foreshadow tighter oversight of similar fintech‑linked offerings in the country.
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