MTN Slashes Maximum Airtime Amount Subscribers Can Borrow As 303# Service Is Restored
- MTN Nigeria restored its airtime and data borrowing service after weeks of disruption, keeping the activation code as *303#
- The telecom operator slashed the maximum borrowing limit from N10,000 to N5,000 as part of revised credit conditions
- MTN confirmed in an exclusive message to Legit.ng that subscribers must clear all outstanding balances before accessing a new airtime or data advance
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
MTN Nigeria has slashed the maximum amount subscribers can borrow for airtime and data in half, reducing the ceiling from N10,000 to N5,000. *
The telecom giant restored a service that had been suspended for weeks following a court order.
Source: Getty Images
MTN restores borrowing service
MTN officials confirmed the new limit to Legit.ng on Wednesday, July 8, stating that the borrowing service is now active again through the same code subscribers have always used.
MTN said:
"Please be informed that the service is back with the same code *303#. The maximum credit limit has been revised from NGN10,000 to NGN5,000."
Beyond the lower credit ceiling, MTN has introduced a condition requiring subscribers to fully repay any existing airtime or data loan before they can qualify for another advance, a rule aimed at enforcing responsible borrowing.
It noted:
"All outstanding balances must be cleared before accessing a new one."
Why MTN's borrowing service was suspended
The weeks-long disruption was tied to a regulatory standoff between the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC), who clashed over authority to regulate digital lending and value-added services offered by telecoms operators.
The suspension drew sharp criticism from industry groups, who warned that millions of Nigerians, particularly low-income earners, traders, artisans and small business owners, rely on airtime and data advances to stay connected for work, mobile banking and emergencies.
MTN is the largest telecommunications network in Nigeria with over 96 million subscribers,s which is about 51.33% of the total mobile subscriber base in Nigeria.
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) estimated that the dispute between telcos and FCCPC put at risk an industry valued at between N300 billion and N400 billion annually, while also raising concerns about investor confidence and regulatory certainty.
Source: Getty Images
The Wireless Application Service Providers Association of Nigeria (WASPAN) went further, describing the borrowing service as an essential financial lifeline for subscribers who have limited or no access to traditional credit facilities.
With the service now restored, eligible MTN subscribers can dial *303# to access airtime or data advances, though under tighter conditions than before.
Those who previously qualified for the full N10,000 credit will now find their borrowing capacity reduced by half.
Airtel, Glo restart airtime, data lending services
Earlier, Legit.ng reported that Airtel and Globacom restored their lending services following the suspension of controversial regulations by the FCCPC
Subscribers can now regain access to products such as Globacom’s popular “Borrow Me Credit” service and other airtime advance options that many Nigerians rely on during emergencies and temporary cash shortages.
WASPAN confirms telecoms' reinstatement of services amid ongoing regulatory challenges
Source: Legit.ng
