The Federal Competition and Consumer Protection Commission (FCCPC) has denied reports suggesting that President Bola Tinubu approved the participation of nine new companies in Nigeria’s airtime credit market.
In a statement issued on Sunday, the commission’s Director of Corporate Affairs, Ondaje Ijagwu, said the agency had no connection to the claims circulating in some media reports.
“The commission wishes to state clearly that it is not aware of, and was not involved in, the claims attributed to it in the report absolutely,” Ijagwu said.
Recent reports had claimed that the Presidency backed proposals from the FCCPC to expand and reorganise the airtime credit sector, with nine fintech firms allegedly cleared to operate in the space.
However, the commission stressed that it neither recommended nor participated in any such approval process. It also pointed out that the DEON Consumer Lending Regulations 2025, which were referenced in the reports, are currently not being enforced.
According to the FCCPC, the regulations were suspended after the Federal High Court in Lagos issued an interim order following a suit filed by the Wireless Application Service Providers Association of Nigeria (WASPA).
“As a law-abiding public institution, FCCPC remains bound by the court order to suspend enforcement of the regulation pending the determination of the substantive case by the court, which has been fixed for July 20, 2026, for further hearing.
“The commission remains committed to pursuing all lawful processes in respect of that matter while complying fully with the orders of the Court.”
WASPA also questioned reports that new operators had been granted entry into the market despite the ongoing legal dispute surrounding the regulations.
The FCCPC’s clarification has cast doubt on the earlier reports, while the Presidency has yet to publicly address the matter. The court is expected to continue hearing the case on July 20, 2026.
