MTN Cuts Off Airtime And Data Loans Amid New FCCPC Lending Rules

The Federal Competition and Consumer Protection Commission’s new regulations have forced MTN Nigeria to halt its Xtratime airtime and data advance service.

In a filing to the Nigerian Exchange Limited on Thursday, the telecom provider announced the decision and stated that the suspension was necessary to comply with the FCCPC’s Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025.

Prepaid customers can borrow data or airtime from the service and pay it back when they recharge.

MTN stated that Xtratime is subject to the new regulations, which call for extra licensing and compliance processes for providers of digital services, in the disclosure signed by its company secretary, Uto Ukpanah.

“MTN Nigeria Communications PLC hereby notifies the Nigerian Exchange Limited and the investing public that the company has temporarily suspended its airtime and data credit advance service (‘Xtratime’),” the company said.

It added that the suspension relates to “the implementation of processes under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new compliance and licensing framework for entities providing digital or non-traditional consumer credit services”.

“Given the scale within the revenue mix, we do not expect the temporary suspension to have a material impact,” the company said, adding that it was monitoring customer behaviour and usage patterns and would provide updates in its first quarter 2026 results.

This development is truly saddening, as many people rely on these loans to make ends meet when they are not financially buoyant enough. For a significant portion of the population, these credit options provide a vital lifeline, helping them navigate daily challenges.

With their suspension, life is becoming increasingly unbearable for many, highlighting the growing financial struggles faced by ordinary citizens in these trying times.