FCCPC Denies Tinubu Approval, Cites Court Suspension

The Federal Competition and Consumer Protection Commission (FCCPC) has denied reports that President Bola Tinubu approved nine new companies to enter Nigeria’s airtime credit market, clarifying that a key regulatory framework remains suspended by a court order. The commission stated it was not involved in the claims, which had circulated in several national newspapers.

In a statement, FCCPC Director of Corporate Affairs Ondaje Ijagwu said the commission is neither aware of nor involved in the alleged approvals. He stressed that reports suggesting the FCCPC submitted names of fintech firms to the presidency were inaccurate. The regulatory framework in question, the Digital, Electronic, Online and Non-Traditional Consumer Lending (DEON) Regulations of 2025, has been under a court-ordered suspension since April 15, 2026.

That injunction was granted by the Federal High Court in Lagos following a suit filed by the Wireless Application Service Providers Association of Nigeria (WASPAN). Ijagwu stated that as a law-abiding institution, the FCCPC remains bound by the court order and has suspended enforcement of the regulations pending the determination of the substantive case, which is...