ABUJA — The Federal Competition and Consumer Protection Commission (FCCPC) has officially refuted widespread media reports claiming that President Bola Tinubu approved plans to open Nigeria’s airtime credit market to nine new operators.

The Commission’s Denial

In a statement issued on Sunday, June 7, 2026, FCCPC Director of Corporate Affairs, Ondaje Ijagwu, categorically denied any involvement in the reported developments. The commission stated it was "neither aware of, nor involved in" the claims attributed to it by various national media outlets.

The reports had alleged that:

  • President Tinubu endorsed FCCPC proposals to restructure the airtime credit sector.

  • The Presidency approved nine specific fintech firms to participate in the market, including Technotrends Platforms Nigeria Limited, Total Tim Nigeria Limited, and Fonyou Technologies Nigeria Limited, among others.

  • This initiative was part of an effort to reform the sector and curb capital flight.

The FCCPC clarified that these reports were inaccurate and did not reflect the commission's position or any actual government directive.

Legal Context: The DEON Regulations Dispute

The commission further emphasized that the regulatory framework cited in the reports the DEON Consumer Lending Regulations 2025 is currently under active judicial restraint.

Key points regarding the current legal status of the market:

  • Court-Ordered Suspension: On April 15, 2026, the Federal High Court in Lagos granted an interim injunction in a suit filed by the Wireless Application Service Providers Association of Nigeria (WASPAN). This order suspends the FCCPC's enforcement and implementation of the DEON regulations against WASPAN's members.

  • Binding Compliance: The FCCPC reiterated that as a law-abiding public institution, it remains bound by this court order pending the determination of the substantive case, which is set for further hearing on July 20, 2026.

  • Industry Concern: WASPAN has expressed significant concern over the reported claims, questioning how commercial rights could be granted under a regulatory framework that is currently suspended by both court order and the commission's own administrative actions.

The FCCPC reaffirmed its commitment to pursuing all lawful processes while strictly complying with the directives of the court.