Court Affirms FCCPC's Authority Over Airtime Lending Market

On Monday, the Federal High Court in Lagos, presided over by Justice Ambrose Lewis-Allagoa, delivered a landmark judgment affirming the powers of the Federal Competition and Consumer Protection Commission (FCCPC) to regulate Nigeria's estimated N400 billion airtime lending market. The court dismissed a suit filed by the Wireless Application Service Providers Association of Nigeria (WASPAN), which challenged the FCCPC's authority under the Deon regulations.

Justice Lewis-Allagoa ruled that the FCCPC acted within its statutory powers, emphasizing that its regulatory jurisdiction is derived from the 1999 Constitution and the Federal Competition and Consumer Protection Act (FCCPA) of 2018. The court found that the FCCPC's regulations aim to protect consumers and prevent anti-competitive practices in the digital lending ecosystem.

The ruling also removed legal obstacles that had temporarily restrained the FCCPC from enforcing regulations against digital lending providers, including those offering airtime credit services. The court did not award costs in the case.