MTN Nigeria, the country’s largest telecom operator, is working to restore its Xtratime airtime lending service soon after Nigeria’s consumer protection regulator suspended the enforcement of new digital lending rules.
“The Federal Competition and Consumer Protection Commission (FCCPC) has suspended the enforcement of DEON. To that extent, we will reinstate the service,” a company insider told TechCabal.
MTN’s decision to restore the service is a departure from what executives told investors during the company’s May 4 earnings call. The telecom operator had argued that the court ruling restraining enforcement of the rules did not automatically require it to resume airtime lending because the judgment neither invalidated the underlying regulations nor directly instructed operators to restore services.
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