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President Tinubu backs reforms to dismantle Optasia’s 12-year monopoly on Nigeria’s airtime and data marketFCCPC licenses nine companies to boost competition and revive Nigeria’s N3 trillion fintech ecosystemIncreased market competition is expected to drive innovation and improve financial inclusion for millions of Nigerians
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
President Bola Tinubu has approved a major shake-up of Nigeria’s airtime credit and data advance market as the Federal Competition and Consumer Protection Commission (FCCPC) unveiled nine companies licensed to operate in the sector.
The move is aimed at dismantling what regulators describe as a 12-year monopoly allegedly controlled by South African technology firm Optasia, formerly known as Channel VAS.
President Bola Tinubu backs liberalisation of Nigeria’s credit industry. Credit: State HouseSource: Getty Images
Officials say the reform could unlock a market estimated to be more than N3 trillion annually while boosting local
