Following regulatory approval of independent airtime and data lenders, Nigeria's three largest telecom carriers, MTN Nigeria, Airtel Nigeria, and Globacom, are bracing for a revenue reduction of more than N300 billion ($220 million).
The shift came after the Federal Competition and Consumer Protection Commission (FCCPC) implemented its digital , Electronic, Online, or Non-Traditional Consumer Lending Regulations, 2025, which required telcos to stop credit services like MTN’s XtraTime.
These services, historically embedded within telecom billing stacks, have functioned as micro-credit infrastructure at scale.
Financial disclosures suggest the exposure is significant. Airtel Nigeria reported $155 million in “other revenue” for the nine months ending December 2025, with airtime lending and adjacent services contributing up to 80% approximately N156 billion ($116 million).
Similarly, MTN Nigeria’s fintech segment, which grew 79.7% to N191.3 billion ($142 million) in 2025, relies heavily on value-added services, where airtime and data lending account for roughly 80% of non-core revenue, estimated at N144 billion ($107 million).
Across operators, including smaller networks, exposure from suspended credit services exceeds N300 billion ($220 million), highlighting the scale of embedded lending in telecom systems.
In a new development, the FCCPC has announced five newly licensed digital lenders for the airtime and data services.
The FCCPC said the five companies have satisfied all requirements under the 2025 lending regulations.
The approved firms are Total Tim Nigeria Limited, Rane Interactive Medien CLS Limited, Mode NG Applications Limited, Cloud Interactive Associate Limited, and Coverage Broadband Limited.
FCCPC disclosed that telcos are expected to retain backend supply roles through API integrations and revenue-sharing agreements.
Separating credit from core telecom services marks a structural shift that could reshape how Nigerian telcos earn, moving lending from operator-controlled systems to a more modular, fintech-led model.
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