MTN Nigeria Suspends Xtratime Service Over New FCCPC Lending Regulations

 

MTN Nigeria Suspends Xtratime Service Over New FCCPC Lending Regulations

By Falmata Abba 

MTN Nigeria has temporarily suspended its airtime and data advance service, Xtratime, following new regulatory requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC).

The telecom operator disclosed the development in a filing to the Nigerian Exchange Limited on Thursday, stating that the suspension is necessary to ensure compliance with the FCCPC’s Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025.

Xtratime is a popular service that allows prepaid subscribers to borrow airtime or data and repay on their next recharge. However, MTN noted that the offering now falls within the scope of the new regulations, which mandate additional licensing and compliance procedures for providers of digital credit services.

In the disclosure signed by Company Secretary Uto Ukpanah, the company stated:

“MTN Nigeria Communications PLC hereby notifies the Nigerian Exchange Limited and the investing public that the company has temporarily suspended its airtime and data credit advance service (‘Xtratime’).”

The company further explained that the decision is tied to “the implementation of processes under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new compliance and licensing framework for entities providing digital or non-traditional consumer credit services.”

Despite the suspension, MTN reassured customers that alternative channels for purchasing airtime and data remain available. The telecom giant also emphasized that the temporary halt is not expected to have a material impact on its earnings.

The move highlights the growing regulatory focus on digital lending services in Nigeria, as authorities seek to strengthen consumer protection and ensure proper oversight of emerging financial technologies.