Stakeholders in the financial technology and consumer rights space have hailed the newly approved Non-Traditional Consumer Lending Regulations 2025, saying the reforms could transform Nigeria’s digital credit landscape by compelling telecommunications companies and digital lenders to share loan repayment data with recognised credit bureaux.

Currently, most borrowers who repay airtime or data loans do not have their repayment records captured in credit histories. Data from the Nigerian Communications Commission (NCC) show that in 2023 alone, telcos issued N46 billion worth of airtime and data loans, with a cumulative value of N1.4 trillion.

Yet, most of these transactions remained invisible to banks and microfinance institutions. Under the new rules, lenders must report loan data to credit bureaus in line with the Nigeria Data Protection Act, 2023.

Analysts said this would improve borrowers’ credit scores, enabling them to access larger formal loans for business and personal purposes.

“This regulation is not just about fairness, it’s about inclusion,” an economist, Dr. Ifeoma Okoye, said.

Consumer finance advocate, Mariam Bello, also welcomed the move, saying: “When repayment histories are visible, responsible borrowers can finally break free from the cycle of microloans and access real capital. This is how you build financial independence, not just temporary relief.”