By The House of Representatives has ordered the Nigerian Communications Commission (NCC) and major telecommunications operators, including MTN, Airtel, Glo, and 9mobile, to maintain the status quo pending the outcome of an investigation into the regulatory activities of the Federal Competition and Consumer Protection Commission (FCCPC) in the digital lending sector.
The directive followed a motion of urgent public importance adopted during Wednesday’s plenary session, where lawmakers expressed concern over recent enforcement moves by the FCCPC that may have far-reaching implications for both consumers and investors in the telecom and digital lending space.
To address the concerns, the House constituted an Ad Hoc Committee chaired by Hon. Victor Nwokolo to examine the FCCPC’s oversight functions, assess its compliance with existing laws, and evaluate its impact on stakeholders in the communication industry.
Speaking with journalists after the plenary, Hon. Nwokolo explained that the committee’s creation stemmed from mounting complaints about consumer protection gaps and investor apprehension over the FCCPC’s handling of digital and non-digital lending regulations.
He stated that both the NCC and CORE, along with all service providers, have been instructed to suspend further regulatory or operational actions until the investigation is concluded.
“The committee has been given six weeks to conduct a thorough review and submit its findings to the House for legislative consideration,” Nwokolo added.
