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FCCPC has denied claims of President Tinubu approving airtime credit market restructuringNine fintech companies linked to controversial reports face challenges amid a court injunctionMarket valuation discrepancies raise questions over the accuracy of airtime credit reports
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Federal Competition and Consumer Protection Commission (FCCPC) has distanced itself from widespread reports alleging that President Bola Tinubu approved a major restructuring of Nigeria’s airtime credit market and licensed nine fintech companies to operate in the sector.
In a statement released on Saturday, the Commission described the reports as inaccurate and clarified that it neither submitted proposals to the Presidency nor participated in any process aimed at opening the market to new operators.
The Nigerian government speaks on the alleged backing of credit market restructuring. Credit: NovatiseSource: Getty Images
The clarification comes after several national newspapers published reports claiming the
