By Sunday Ani
Civil society organisations and local fintech associations have urged the Federal Government to resist industry pressures and speedily enforce the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations 2025, saying the rules would end the monopoly of Nairatime, a South African-owned intermediary dominating airtime lending partnerships.
Under the current arrangement, MTN, which has the largest market share, partners exclusively with Nairatime, taking 75 percent of revenue from airtime loans, while the partner receives 25 percent.
Data from the Nigerian Communications Commission (NCC), shows that between 2019 and 2023, MTN alone advanced N5.6 trillion in airtime and data loans, charging a flat 15 percent interest rate.
Section 24 of the new regulation mandates that all telcos must, within 60 days, engage at least two intermediaries for loan activation, one of which must be a wholly Nigerian-owned company. The provision is designed to open the market for homegrown fintechs and foster fair competition.
“The monopoly has stifled innovation, inflated costs for consumers and blocked Nigerian-owned companies from participating in a multi-trillion-Naira industry,” said Ibrahim Adesina, an economist and consumer protection advocate. “The FCCPC must hold the line.”
Another economist and tech enthusiast, Kingsley Utah, added: “Every day that the implementation is delayed is another day of lost revenue and opportunity for Nigerian businesses. This is not just about fairness; it’s about building local capacity and keeping value within our economy.”
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