JUST IN:Court Restrains MTN Nigeria, Airtel Networks Limited Over Airtime Lending Dispute

A Federal High Court in Abuja has restrained MTN Nigeria and Airtel Networks Limited from suspending or restricting airtime lending services linked to Nairtime Nigeria Limited, pending the determination of a substantive suit before the court.

The order was granted on April 24 after an ex parte application filed by Nairtime Holdings Limited and Nairtime Nigeria Limited, who accused the telecom operators of moves capable of disrupting their business operations.

In the ruling, the court directed all parties to maintain the status quo, effectively halting any planned suspension or limitation of services associated with the airtime lending platform until the matter is fully heard.

The applicants told the court that the threatened action by the telecom firms would cause irreparable damage to their operations, including financial losses and disruption to customers who rely on the service for access to airtime on credit.

They further argued that the dispute stems from regulatory issues surrounding digital lending operations, which are now the subject of the substantive suit before the court.

By granting the interim injunction, the court held that it was necessary to preserve the subject matter of the case and prevent any action that could render the outcome of the suit nugatory.

The development sets the stage for a legal showdown between the telecom operators and the lending platform over the future of airtime credit services, a fast-growing segment in Nigeria’s digital and financial services ecosystem.

The case has been adjourned to a later date for hearing.