…Ends weeks of regulatory uncertainty
A leading telecommunications company, MTN, has restored its airtime lending service to millions of its subscribers ending weeks of disruption caused by a regulatory dispute that affected one of Nigeria’s largest digital credit ecosystems.
This move followed similar actions taken by Airtel and Glo after the suspension of enforcement of aspects of the Federal Competition and Consumer Protection Commission’s (FCCPC) Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, which had triggered uncertainty over the operation of airtime and data advance services.
Industry stakeholders estimate that about 40 million subscribers rely on airtime lending, with the ecosystem valued at between N300 billion and N400 billion annually.
For many subscribers, the return of the service restores access to an emergency option used to stay connected to work, banking services, businesses and family during difficult moments.
