The Federal Competition and Consumer Protection Commission has denied reports claiming President Bola Tinubu approved plans to open Nigeria’s airtime credit market to nine new operators, stating that it neither initiated nor participated in the alleged proposals.

According to The PUNCH, the FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, said in a statement on Sunday that reports linking the commission to the approval process were inaccurate.

“The commission wishes to state clearly that it is not aware of, and was not involved in, the claims attributed to it in the report absolutely,” Ijagwu said.

Several national newspapers had reported that President Tinubu approved recommendations allegedly submitted by the FCCPC to reform the airtime credit sector and permit nine local fintech companies to operate in the market.

The companies named in the reports included Technotrends Platforms Nigeria Limited, Total Tim Nigeria Limited, Fonyou Technologies Nigeria Limited, Rane Interactive Medien CLS Limited, MRS Innovation Nigeria Limited, Mode NG Applications Nigeria Limited, ERL Telecoms Service Limited, Cloud Interactive Associate Limited and Coverage Broadband Limited.

However, the FCCPC maintained that it had no involvement in the purported approvals and noted that the regulatory framework under which the firms were reportedly approved remains suspended.

Ijagwu explained that the implementation and enforcement of the DEON Consumer Lending Regulations 2025 were halted following an interim injunction granted by the Federal High Court in Lagos on April 15, 2026, in a suit filed by the Wireless Application Service Providers Association of Nigeria.

“As a law-abiding public institution, FCCPC remains bound by the court order to suspend enforcement of the regulation pending the determination of the substantive case by the court, which has been fixed for July 20, 2026, for further hearing,” he said.

“The commission remains committed to pursuing all lawful processes in respect of that matter while complying fully with the orders of the Court.”

Reacting to the reports, WASPA also questioned how new operators could be approved under regulations that are currently suspended by both administrative action and a court order.

The FCCPC’s clarification has raised fresh questions about the source of the reports, which contained detailed policy proposals, market projections and a list of companies allegedly approved to participate in the airtime credit sector.

The Presidency has yet to publicly comment on whether any directive regarding the DEON framework or the airtime credit market was issued.

The substantive case is scheduled to return to court on July 20, 2026.