Observers Times

Tag: FCCPC

  • FCCPC Resumes Implementation of Digital Lending Regulations

    FCCPC Resumes Implementation of Digital Lending Regulations

    The Federal Competition and Consumer Protection Commission (FCCPC) says it has resumed the implementation of the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).

    A statement by the Commission in Abuja on Monday said the resumption followed the delivery of a court judgement on a suit instituted by the Wireless Application Service Providers Association of Nigeria Ltd./Gte (WASPAN).

    WASPAN had challenged the Commission’s authority to issue and implement the DEON Regulations.

    The FCCPC said that upon being served with the court’s interim order in April 2026, the Commission immediately suspended the implementation and enforcement of the Regulations, consistent with its commitment to the rule of law and respect for judicial authority.

    The FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, in a reaction to the judgement, said the Commission had maintained that the rule of law was fundamental to effective regulation and good governance.

    According to him, now that the Court has affirmed the validity of the DEON Regulations and delivered judgment, the Commission will continue to discharge its statutory responsibilities faithfully, professionally and in accordance with the law.

    ”The DEON Regulations are designed to promote responsible lending, improve regulatory accountability, curb unfair and exploitative practices, and strengthen consumer protection in Nigeria’s digital lending market.

    ”Our objective has always been to ensure that innovation and financial inclusion flourish within a transparent, fair and accountable regulatory framework that inspires confidence among consumers, investors and responsible operators alike,” Mr Ijagwu said.

    (NAN)

  • FCCPC Takes Over Airtime Lending Space, Approves 5 Operators

    FCCPC Takes Over Airtime Lending Space, Approves 5 Operators

    The Federal Competition and Consumer Protection Commission (FCCPC) has approved five companies to provide airtime and data lending services in Nigeria.

    This comes after telecom operators suspended these services due to new regulations.Nigeria market analysis

    MTN and Airtel had already announced the suspension last week. Checks show that Globacom and 9mobile (now T2) have also stopped offering the service, making it a decision followed by all major telecom operators.

    The FCCPC approved the following companies to take over the service:

    Total Tim Nigeria Limited

    Rane Interactive Medien CLS Limited

    Mode NG Applications Limited

    Cloud Interactive Associate Limited

    Coverage Broadband Limited

    According to the FCCPC, these companies met the requirements under the Digital Consumer Lending Regulations introduced in 2025. The goal of the regulation is to make digital lending fairer and more transparent.Nigeria market analysis

    An official from the Nigeria Data Protection Commission said some telecom operators failed to follow the rules. They were given 90 days to comply starting in July 2025, and the deadline was later extended to January 5, 2026. However, they still did not meet the requirements.

    Telecom companies say the new rules add to the many regulations they already face, especially since they are also regulated by the Nigerian Communications Commission. For now, they have decided to step back and observe.

    Even though they have suspended the service, telecom operators will still be involved indirectly. The approved lenders will partner with them to provide airtime and data, and both sides will share revenue.

    Impact on customers

    The suspension has affected many Nigerians who rely on borrowing airtime in emergencies. The popular *303# code used for borrowing is no longer working.

    Some users say the service was very helpful, especially when they had no money but needed to make urgent calls. They worry that stopping it will make things harder for people who depend on it.

    Background

    MTN and Airtel said the suspension is temporary and linked to the new lending rules. They assured customers that they can still buy airtime and data through other channels.

    The FCCPC had earlier set October 31, 2025, as the deadline for all digital lenders to register or face a ₦100 million fine. The deadline was later extended to January 5, 2026 to allow more time for compliance.

     

  • FCCPC Slams Airlines: “You Exploited Passengers” During Yuletide Travel Chaos

    FCCPC Slams Airlines: “You Exploited Passengers” During Yuletide Travel Chaos

     

    The Federal Competition and Consumer Protection Commission (FCCPC) says it has concluded investigations into the high airfares charged by airlines during the 2025 Yuletide period.

    The executive vice chairman of FCCPC, Tunji Bello, said the commission was considering mandating the airlines to refund affected passengers over excess charges.

    Mr Bello spoke while briefing State House correspondents on the activities of the commission on Thursday in Abuja.

    “Our preliminary report already finds the airlines wanting in that regard. The final report will be issued soon.

    “So we are considering a situation where they will refund the excess charges to passengers, which we believe they exploited.

    “Prices of airline tickets were about N145,000 to N150,000, suddenly it rose to N405,000 to N600,000 during the Christmas period, so we followed up through our investigations,” he said.

    Mr Bello described the situation as a possible case of collusion among airlines aimed at price fixing.

    “There are about five or six airlines involved, but I do not want to mention names at this stage.”

    The FCCPC boss also disclosed that the commission was investigating alleged exploitative pricing in other key sectors of the economy.

    According to him, the commission is probing pricing practices involving baby formula, pharmaceuticals, cement, and airline tickets following consumer complaints.

    Mr Bello explained that although Nigeria operates a free-market economy, the FCCPC would intervene where businesses exploit consumers or engage in unfair market practices.

    He noted that while inflation is largely driven by macroeconomic factors, practices such as price manipulation, artificial scarcity, and deceptive repackaging worsen the burden on consumers.

    Mr Bello said enforcement operations had uncovered deceptive practices, including repackaging lower-grade rice and presenting it as premium brands.

    He added that some retailers also manipulate prices at checkouts, charging amounts different from the shelf prices.

    The FCCPC boss said some stores in Abuja and other cities had been sealed while compliance notices were issued to erring businesses.

    Mr Bello warned businesses against exploiting prevailing economic conditions to take advantage of consumers.

    He urged Nigerians to report cases of unfair pricing, deceptive packaging, or other exploitative practices through the commission’s complaint channels.

    Mr Bello added that the commission helped consumers recover more than N10 billion through dispute resolution between January and October 2025.

    He also said the FCCPC was working with other regulatory agencies to address unethical practices in the digital lending sector and strengthen consumer protection.

    On concerns that global geopolitical tensions, particularly the conflict involving the United States, Israel, and Iran, could trigger increases in the prices of goods and services, he said the commission was closely monitoring the situation to ensure that businesses do not exploit global developments to unjustifiably inflate prices in Nigeria.

    (NAN)