Nigeria's airtime credit market reaches $3.2 bn as FCCPC tightens lending rules

The Federal Competition and Consumer Protection Commission (FCCPC) introduced the Digital Economy and Online Consumer Lending (DEON) regulations in 2025, classifying airtime and data advances as micro‑loans. The new rules require providers of these services to register and meet stricter data‑sharing and oversight requirements, prompting several airtime‑borrowing apps to suspend operations in recent weeks.

Fintech firm Optasia reported that Nigerian and other emerging‑market subscribers borrowed a record $3.18 bn in airtime credit in 2025, a 12.3 % increase from the previous year. Africa accounted for more than 94 % of the total, with the advances valued at about N4.61 trn. Optasia’s platform assesses subscriber behaviour to determine eligibility, assumes part of the credit risk, and recorded a 75.5 % rise in revenue to $265.36 m, driven largely by its Mobile Financial Services segment.

The regulatory crackdown and the rapid growth of digital credit services highlight the expanding reliance of millions of African mobile users on small‑value loans, while also raising consumer‑protection and market‑competition concerns.