In compliance with the Federal Competition and Consumer Protection Commission (FCCPC) regulatory requirements, MTN Nigeria has suspended its airtime and data credit advance service, known as Xtratime.
In a statement signed by its secretary, Uto Ukpanah, and posted on the Nigerian Exchange Group on Thursday, the telecommunications company said the temporary suspension of the credit service is to comply with the FCCPC licensing framework for entities providing digital or non-traditional consumer credit services.
In its statement on the “Xtratime” suspension, MTN implored its customers to access alternative digital channels for airtime and data purchases pending the time it meets the regulatory requirements.
“MTN Nigeria Communications PLC (MTN Nigeria or the Company) hereby notifies the Nigerian Exchange Limited and the investing public that the Company has temporarily suspended its airtime and data credit advance service (‘Xtratime’).
“This relates to the implementation of processes under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new compliance and licensing framework for entities providing digital or non-traditional consumer credit services,” the statement read.
It assured the investing public that the suspension will not have a material impact, said it continues to closely monitor customer behaviour and usage trends and will update the public on new developments.
“In the interim, customers continue to have access to alternative digital channels for airtime and data purchases.
“Given the scale within the revenue mix, we do not expect the temporary suspension to have a material impact. We are closely monitoring customer behaviour and usage trends and will provide an update on any quantified impact in our Q1 2026 results,” the statement read.
Veteran journalist and recipient of A.B.C Yola, Reporter of the Year Award (1997), Hassan Umar Shallpella, works with WAP as a Regional Correspondence. He was trained at Institute of Mass Communication and Technology Jos and Federal Radio Corporation of Nigeria, Training School Lagos.He was a News desk Editor and a Correspondent at the Punch newspaper and till 2019, was the Deputy Editor ofThe Scope newspaper.
Latest posts by Hassan Umar Shallpella (Regional Correspondent) (see all)
- Former VP Osibanjo Charges African Leaders On Good Governance - October 29, 2026
- Police in Benue arrests 34 Foreign Nationals, Rescued 29 Kidnap Victims - October 29, 2026
- Kaduna State Government, NGO To Support 187,000 Out-of-School Children - October 28, 2026
previous
Petty Trader In Plateau State Rewarded With N500, 000 For Returning N1m
next