Tinubu Defies Diplomatic Pressure to End Optasia’s Airtime Credit Monopoly

President Bola Tinubu has directed the FCCPC to dismantle Optasia’s 12-year dominance of Nigeria’s airtime credit lending and data advance market. The sector is valued at over N3 trillion annually. The FCCPC warned that the South African firm’s near-exclusive grip fueled massive capital flight. Optasia employs virtually no Nigerian staff, holds no significant local infrastructure, and keeps consumer data outside domestic credit bureaus. Despite legal injunctions and high-level diplomatic lobbying by the company, the Presidency backed the case for open competition. This aligns with the Nigeria First agenda to boost local fintech, create jobs, and spur innovation. Industry analysts expect market liberalisation to improve consumer choice, deepen financial inclusion, and retain billions of naira locally. The reform marks a major competition-driven milestone under the Tinubu administration.

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