FCCPC Denies Role in Presidential Plan to Restructure Nigeria’s Airtime Credit Market
By Aboki Forex —
The Federal Competition and Consumer Protection Commission (FCCPC) has distanced itself from reports claiming it secured presidential approval to restructure Nigeria’s airtime credit market and bring in new operators.
In a statement on Saturday, the commission’s spokesperson, Ondaje Ijagwu, said the agency was not involved in the development. “The commission wishes to state clearly that it is not aware of, and was not involved in the claims attributed to it in the report,” he said.
The denial follows reports that President Bola Tinubu had given the go-ahead to open the market to nine Nigerian fintech firms under the administration’s Nigeria First policy. Those reports said the move would expand participation in a sector dominated by telecom operators and their partners, and could reduce capital flight. The reports also estimated the market is worth about ₦3 trillion annually.
The FCCPC did not comment on the estimated market size or the companies mentioned in the reports.
DEON Consumer Lending Regulations Suspended
The commission also reiterated that the implementation of the DEON Consumer Lending Regulations 2025 remains suspended. According to the FCCPC, the suspension followed an interim injunction granted by the Federal High Court in Lagos on 15 April in a suit filed by the Wireless Application Service Providers Association of Nigeria (WASPAN).
Ijagwu said the commission remains bound by the court order pending the determination of the suit. “As a law-abiding public institution, FCCPC remains bound by the court order to suspend enforcement of the regulation pending the determination of the substantive case by the court, which has been fixed for July 20, 2026, for further hearing,” he said.
He emphasised that the commission would follow all lawful procedures and comply with the court’s directives.