Stakeholders in Nigeria’s telecommunications and digital finance sectors have called for greater regulatory coordination to unlock the next phase of growth in digital credit services. They warn that policy uncertainty could slow innovation and limit access to financial services for millions of consumers who increasingly rely on technology-driven solutions for everyday needs.
The call follows months of regulatory and legal disputes over the Federal Competition and Consumer Protection Commission’s Digital, Electronic, Online or Non-traditional Consumer Lending (DEON) Regulations. These rules temporarily disrupted Airtime Credit Services before operators resumed the offering after the suspension of enforcement and the ongoing legal dispute over the Federal High Court judgment.
Industry players say the development highlights the need for clear regulatory boundaries and closer collaboration between agencies overseeing telecommunications and consumer protection. This is particularly important as digital financial services become more integrated with mobile technology.
Structural cooperation across sectors
Association of Licensed Telecommunications Operators of Nigeria Chairman Gbenga Adebayo said the experience demonstrated that services sitting at the intersection of telecommunications and finance require structured regulatory cooperation rather than overlapping enforcement.
“The lesson is that Nigeria’s regulatory agencies need formal coordination protocols for services at the intersection of telecommunications and financial products,” Adebayo said. “The FCCPC’s consumer protection mandate and the NCC’s telecom regulatory mandate can coexist without either displacing the other. We are ready to participate in that conversation and urge both agencies to begin it without delay.”
He had earlier described airtime credit as economic infrastructure used regularly by about 40 million Nigerians. He noted that its temporary withdrawal affected economic activities well beyond the telecommunications sector.
Economic scale and technological innovation
Industry estimates value Nigeria’s airtime credit market at between ₦300 billion and ₦400 billion annually. This underscores the scale of digital micro-credit services that have emerged to support millions of prepaid mobile subscribers.
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Analysts say regulatory certainty is becoming increasingly important as financial technology companies continue to deploy artificial intelligence and automated credit assessment tools. These technologies enable small-value financial services through mobile devices.
They note that clear rules encourage long-term investment, product innovation, and stronger consumer protection while reducing uncertainty for operators and technology providers.
Ecosystem support and future outlook
Among the companies supporting the ecosystem is Nairtime Nigeria Limited, the Nigerian operation of Optasia, which provides the technology that enables Airtime Credit Services offered by mobile network operators. Beyond emergency airtime, the company supports other digital financial solutions through automated credit assessment, disbursement, and repayment technology designed to expand access to responsible micro-credit.
Uchenna Agbo, Nairtime Nigeria chief executive officer and Optasia chief commercial officer, said regulatory collaboration remains essential to advancing financial inclusion through technology.
“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,” Agbo said following the restoration of Airtime Credit Services.
She reaffirmed the importance of airtime lending services to consumers, describing Airtime Credit Services as a lifeline for millions of Nigerian consumers who rely on them for daily connectivity.
Industry observers say Nigeria’s expanding digital economy presents significant opportunities for technology-enabled financial services, particularly among individuals and small businesses underserved by traditional credit channels. However, they argue that sustained growth will depend on a predictable regulatory environment that encourages innovation while safeguarding consumer interests.
As digital financial services continue to evolve, stakeholders maintain that closer collaboration between regulators, telecommunications operators, and technology providers will be critical. This cooperation will expand financial inclusion, strengthen investor confidence, and ensure millions of Nigerians continue to benefit from secure, responsible, and accessible digital credit solutions.
