Millions of Nigerians can once again access airtime credit services after mobile network operators restored lending facilities suspended during a regulatory dispute, prompting Nairtime Nigeria Chief Executive Officer and Optasia Chief Commercial Officer, Ms. Uchenna Agbo, to describe the development as “a lifeline” for consumers ahead of a crucial July 20 court hearing.

 

 

 

The development comes as stakeholders await the resumption of legal proceedings over aspects of the Federal Competition and Consumer Protection Commission’s (FCCPC) Digital, Electronic, Online and Non-Traditional Consumer Lending (DEON) Regulations, a case expected to shape the future of airtime lending and other forms of digital consumer credit in Nigeria.

 

 

Global AI-powered financial infrastructure company Optasia, which operates in Nigeria as Nairtime Nigeria, confirmed that all operators resumed Airtime Credit Services (ACS) on June 24, restoring access to short-term airtime credit facilities used by millions of subscribers to maintain voice and data connectivity.

 

 

The restoration follows months of uncertainty that began earlier this year when the implementation of the FCCPC’s DEON Regulations triggered legal action by industry stakeholders, leading to the temporary suspension of airtime lending services.

 

 

Although the regulations remain suspended pending the outcome of the court proceedings, operators have now resumed services while the legal process continues.

 

 

Speaking on the development, Agbo said the return of airtime lending services would provide relief to consumers who depend on them for everyday communication.

 

 

“We are pleased that all operators have now resumed ACS services in Nigeria,” she said, adding “these services provide a lifeline for millions of Nigerian consumers who rely on them for daily connectivity, and we welcome this development.”

 

 

She further stated : “Fair financial access is at the heart of our business and we are committed to working constructively with regulators and our partners as the legal process unfolds to promote a fair, transparent and inclusive digital ecosystem that benefits Nigeria and all Nigerians.”

 

 

Industry analysts note that airtime lending has evolved into an important financial inclusion tool, particularly for low-income consumers who rely on airtime advances and data credit facilities during temporary cash shortages.

 

 

Providing broader context to the regulatory dispute, lawyer and social commentator Ilemona Onoja said the DEON Regulations were introduced primarily to curb abuses by some digital lenders operating outside established financial and consumer protection standards.

 

 

According to Onoja, the regulations were designed to address the activities of loan providers that extended credit without appropriate licensing and engaged in practices that violated data privacy rules and consumer rights, including public shaming and harassment of borrowers who defaulted on loans.

 

 

The FCCPC has maintained that the regulations were intended to strengthen consumer protection within Nigeria’s rapidly expanding digital lending sector, while industry operators have argued that certain provisions require further clarification, leading to the ongoing legal challenge.

 

 

Throughout the disruption, Optasia said it continued to engage stakeholders to support the restoration of services across the market.

 

 

Founded in Nigeria in 2012, Optasia is a publicly listed AI-powered financial infrastructure platform that enables financial institutions, mobile network operators and digital platforms to expand access to financial services across emerging markets.

 

 

The company said its technology combines real-time data, advanced analytics and machine learning to support responsible credit decisions in markets where traditional financial records are often limited.

 

 

According to Optasia, it processes more than 34 million transactions daily across 38 countries.

 

 

With airtime credit services now restored across all operators, attention is expected to focus on the July 20 court proceedings, whose outcome could determine the future regulatory framework for airtime lending and other digital credit services in Nigeria.