Federal Competition and Consumer Protection Commission (FCCPC) has dismissed reports claiming federal government, through the agency, has approved the entry of nine new operators into Nigeria’s airtime credit market.

It would be recalled that the Wireless Application Service Providers Association of Nigeria (WASPAN) has accused the regulator of approving additional firms to administer the disputed regulation.

Ad >>>

According to the group, the FCCPC has now approved additional companies, aside those from its members, to operate its Digital Economy and Online Lending (DEON) Consumer Lending Regulations despite a court order barring the commission from enforcing the regulation, in addition to the agency’s own decision to suspend the framework.

Meanwhile, reacting to the allegations, the FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, in a statement, Sunday, said the commission was neither aware of nor involved in the alleged approvals.

He stressed that reports suggesting FCCPC submitted names of fintech firms to the Presidency were “absolutely inaccurate.”

It had been reported that the Federal Government, endorsed FCCPC’S proposals to restructure the airtime credit sector and subsequently approved 9 Nigerian fintech companies, including; Technotrends Platforms Nigeria Limited, Total Tim Nigeria Limited, and Cloud Interactive Associate Limited, among others.

Ijagwu clarified that the regulatory framework under which the firms were reportedly approved remains suspended.

He noted that enforcement of the DEON Consumer Lending Regulations 2025 was halted following a Federal High Court injunction in Lagos on April 15, 2026, in a case filed by the Wireless Application Service Providers Association of Nigeria (WASPAN).

“As a law-abiding public institution, FCCPC remains bound by the court order to suspend enforcement of the regulation pending determination of the substantive case,” Ijagwu stated.

The matter is scheduled for further hearing on July 20, 2026.WASPA also expressed concern over the reports, questioning how commercial rights could be granted under a framework currently restrained by both court order and administrative action.

Meanwhile, the Presidency has yet to confirm any directive relating to the DEON framework or the airtime credit market was issued.

It would be recalled that WASPAN, has in a statement signed by its Chairman, Osa Umweni, alleged that the FCCPC recently expanded the list of approved operators under the DEON framework from five to nine companies, even as the regulations remain subject to ongoing litigation and an administrative suspension announced by the commission on May 22, 2026.

The association described the development as ‘troubling: and raised concerns about what it called the continued creation of commercial rights under a framework currently restrained by the courts.

WASPAN said the regulator’s actions raise questions about its commitment to undertakings made before the court and the public.

“The continued creation of commercial rights under a regulatory framework subject to active judicial restraint and administrative suspension raises serious questions about the Commission’s commitment to the undertakings it has made to the court and the Nigerian public,” the statement read.