Nigerians have begun to question why MTN stopped airtime and data borrowing loan service of lending airtime and data to customers.
The service stopped at the start of this week, when users and customers got a non-availability from USSD code commands after dialing the usual *303# to borrow airtime or data. At first, it seemed like a glitch that was going to get cleared over time but that did not happen till now.
Nigerian users of the network have now begun to question why the telecommunication company stopped this service as many admitted that this service has saved them in emergency situations, especially when they do not have the capacity to fund their network service at a given time. Some admit that the service has helped that the service has helped them plan spendings on network and internet services as they could suggest when and when not to purchase airtimes and data.
Why MTN stopped airtime and data borrowing
MTN has revealed that The Federal Competition and Consumer Protection Commission’s (FCCPC) new regulations are to blame for its suspension of airtime and data borrowing services. This was revealed at the Nigerian Exchange Limited on Thursday by Uto Ukpanah, the company’s secretary.
The telecom company claims that the FCCPC’s laws under the Digital, Electronic, Online, or Non-Traditional Consumer Lending laws 2025 are mostly to blame for the decision to halt the services.
He said, “This relates to the implementation of processes under the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new compliance and licensing framework for entities providing digital or non-traditional consumer credit services.
“Given the scale within the revenue mix, we do not expect the temporary suspension to have a material impact,” he added.
ENigeria Newspaper confirm that under these news 2025 rollout guidelines, all digital lenders operating in Nigeria must register with the commission. These rules essentially place telecom companies like MTN under a more stringent regulatory framework since it also applies to airtime credit services.
