MTN Nigeria Communications Plc has temporarily suspended its airtime and data lending service, Xtratime, following the introduction of new regulatory requirements governing digital credit services in Nigeria.
The company said the decision was necessary to comply with the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, issued by the Federal Competition and Consumer Protection Commission (FCCPC).
In a corporate disclosure filed with the Nigerian Exchange Limited on Thursday, MTN explained that the Xtratime service—used by prepaid subscribers to borrow airtime or data and repay on their next recharge—will remain suspended while the company aligns its operations with the updated compliance and licensing framework.
The filing, signed by the Company Secretary, Uto Ukpanah, noted that the service falls within the scope of the new regulations and therefore requires additional compliance procedures before it can be reinstated.
“MTN Nigeria Communications Plc hereby notifies the Nigerian Exchange Limited and the investing public that the company has temporarily suspended its airtime and data credit advance service (‘Xtratime’),” the statement read.
The telecom firm added that the move is part of efforts to implement processes required under the new rules, which introduce stricter oversight and licensing conditions for providers of digital and non-traditional consumer credit services.
