MTN Nigeria’s airtime and data lending revenue rebounds with 78.5% surge in Q3’26

MTN Nigeria’s fintech segment showed a slight recovery in the third quarter of 2026, driven largely by the gradual restoration and improved regulatory coordination of its airtime and data lending services.

According to the operator’s nine-month earnings report ending September 2026, MTN Nigeria said airtime and data lending services continue to recover, with Q3 revenue up 78.5% from Q2.

Recall that in April, the Federal Competition and Consumer Protection Commission (FCCPC) required that all digital loans comply with its Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations (DEON) 2025. In this, airtime and data lending were classified as consumer credit, prompting telecoms operators to suspend the service until clarifications and compliance were reached.

Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025 (DEON)

Also read: MTN, Airtel, Glo to lose over N300bn revenue as FCCPC approves new airtime and data lenders.

After a sharp downturn in Q2 caused by regulatory compliance suspensions, MTN Nigeria‘s fintech unit rebounded to post ₦20.3 billion in revenue for Q3 2026, a 56.15% sequential surge over Q2 levels, as airtime lending services are driving towards regaining their momentum.

The financial trajectory of MTN’s fintech division underscores the critical role that airtime and data credit advance services play in generating value, as the XtraTime service is the overwhelming driver of MTN Nigeria’s reported fintech revenue.

In Q1 2026, Fintech delivered ₦64.2 billion in revenue, powered by heavy MoMo app engagement and interest income generated from airtime and data lending services. When MTN Nigeria temporarily suspended airtime and data lending to align with regulatory requirements, fintech revenue dropped to ₦13.0 billion. This temporary loss of credit revenue highlighted the weight of this micro-credit offering.

MTN Nigeria Chief Financial Officer, Modupe Kadri

After adjustments and phased service restoration, airtime and data lending gained traction in the third quarter. This was evident as fintech revenue rose to ₦20.3 billion, compared to Q2’s ₦13.0 billion. The growth confirms strong customer demand for short-term credit advances to stay connected, which continues to convert into significant interest income for MTN Nigeria.

“Overall fintech revenue declined 25.9% due to the suspension of the airtime and data credit service between April and June,” the operator said in the financial report, adding that “the service resumed under a new multi-partner model and continued to recover in Q3, with revenue up 78.5% on Q2.”

Airtime lending: MTN, others inside regulatory frictions

The Nigerian airtime lending market is vast, with recent reports indicating that over 40 million Nigerians rely on airtime lending services, which is also valued between N300 and N400 billion.

The services’ suspension was driven by regulatory tussles.

While the FCCPC treated airtime and data credit advances as digital loans requiring compliance with consumer protection rules, telecom operators and industry groups such as the Association of Licensed Telecommunications Operators of Nigeria (ALTON) argued that airtime lending is a core telecom service under the Nigerian Communications Commission (NCC).

In April 2026, the Federal High Court in Lagos issued an ex parte order (Suit No. FHC/L/CS/760/2026) following a challenge by WASPAN, prompting the FCCPC to suspend enforcement of the DEON Regulations.

On July 20, 2026, the court dismissed the WASPAN suit, affirmed that the DEON Regulations are intra vires (within the powers) of the FCCPC, and discharged the interim restraining order. However, it noted that FCCPC powers operate alongside NCC licensing authority, suggesting a coordination of regulations instead of clash and confusion.

In June, a month before the court result, Optasia announced restoration of airtime credit services in Nigeria. Optasia, which operates in Nigeria through Nairtime, sits behind Nigeria’s major mobile operators as the credit engine powering airtime and data loans.

The significant change from the FCCPC’s actions resulted in the Nigerian airtime and data lending market shifting from a traditional single-operator value-added service into a regulated and multi-faceted digital consumer credit model.

The FCCPC approved a list of companies, including Total TIM Nigeria Limited, Rane Interactive Medien CLS Limited, Mode NG Applications Nigeria Limited, Cloud Interactive Associate Limited, and Coverage Broadband Limited, to offer compliant airtime and data credit services.

Also read: FCCPC debunks claims it triggered suspension of airtime and data borrowing.