June 6, 2026
…FCCPC secures presidential backing to dismantle exclusive control over N3trn airtime advance market …Capital flight and lack of local investment, cited among other reasons •Nine Nigerian fintechs to be onboarded
President Bola Tinubu has directed the Federal Competition and Consumer Protection Commission (FCCPC) to break the 12-year monopoly of South African firm Optasia on airtime credit lending and data advance services in Nigeria, authoritative sources have told Vanguard.
The decision, which followed a high-level briefing by the FCCPC, marks a major policy shift aimed at opening up an estimated N3 trillion annual market to Nigerian fintechs.
According to multiple sources within the commission, the President was persuaded by arguments that Optasia’s exclusive arrangement has for over a decade facilitated substantial capital flight while contributing minimally to local tax revenues or employment.
