FCCPC Denies Tinubu's Approval of New Airtime Operators

The Federal Competition and Consumer Protection Commission (FCCPC) issued a statement refuting claims that President Bola Tinubu approved the entry of nine new airtime credit operators into Nigeria's market. Ondaj Ijagwu, the FCCPC Director of Corporate Affairs, emphasized that the commission was neither aware of nor involved in the claims attributed to a report published in several national newspapers.

The report suggested that the President endorsed a proposal to restructure the airtime credit sector, allowing nine Nigerian fintech firms to participate. The firms mentioned included Technotrend, Fonyou Technology, Rane Interact Medien, Mr. Innov, Mode NG, Erl Telecom Services, and Cloud Interact Associates.

However, the FCCPC maintained that no approval had been granted and reiterated that the regulatory framework for these firms remains suspended due to an interim injunction from the Federal High Court in Lagos, following a suit filed by the Wireless Application Service Providers Association of Nigeria. The court's order suspends the enforcement of regulations pending a substantive case, with further hearings scheduled for July 20, 2026.