By Ghazali Ibrahim
Nigeria’s largest telecommunications operator, MTN Nigeria, has suspended its airtime and data borrowing services, citing the need to comply with new regulatory requirements governing digital lending in the country.
The company announced the decision in a corporate filing with the Nigerian Exchange on Thursday, stating that its popular credit advance service, known as Xtratime, has been temporarily halted following the introduction of new rules by the Federal Competition and Consumer Protection Commission (FCCPC).
According to MTN, the suspension is necessary to align with the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which expand oversight on entities offering credit services, including telecom operators.
Under the new framework, services like airtime and data borrowing are now classified as digital lending products, requiring operators to meet stricter compliance and licensing conditions before continuing operations.
The Xtratime service, widely used by millions of Nigerians, allows subscribers to borrow airtime or data and repay on their next recharge. Its suspension has therefore left many users without access to emergency credit services.
Industry reports indicate that the new FCCPC regulations introduce tighter controls aimed at improving transparency and consumer protection in Nigeria’s rapidly growing digital lending space.
MTN noted that the suspension is temporary and part of efforts to implement the required processes under the new rules, suggesting that the service may resume once regulatory conditions are met.
The development has triggered reactions among subscribers, many of whom rely on the borrowing service during financial constraints, as the telecom sector adjusts to the evolving regulatory environment.
