Associates and close allies of President Bola Tinubu are reportedly orchestrating a bid to dominate Nigeria’s airtime and data credit lending sector, an industry estimated to be worth around ₦400 billion annually.
The development was made known by investigative journalist David Hundeyin in a post on X.
It should be recalled that the popular airtime and data credit services such as MTN XtraTime, Airtel Advance, and similar emergency offerings have been immersed in regulatory battles in recent months. These services have long allowed tens of millions of Nigerians to borrow small amounts of airtime or data and repay upon their next recharge.
However, in July 2025, the Federal Competition and Consumer Protection Commission (FCCPC) introduced the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations (DEON Regulations). The rules classify airtime and data credit as traditional lending, requiring strict licensing, consumer protections, explicit interest rate disclosures, and rigid compliance frameworks.
Following the policy’s introduction, major
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