MTN Nigeria’s fintech business posted one of its weakest performances in recent years after the telecom operator temporarily suspended its airtime and data credit service, underscoring how much one product had come to underpin the division’s growth.

Fintech revenue fell 72.4% year-on-year to ₦12.99 billion ($9.50 million) in the second quarter of 2026. The sharp decline pulled first-half fintech revenue down 7.2% to ₦77.2 billion ($56.49 million), making it one of the few weak spots in an otherwise strong earnings report that saw the telecom operator’s profit after tax jump 70.6% to ₦707.54 billion ($517.69 million), according to the company’s first-half 2026 financial statements.

The decline followed the temporary suspension of MTN’s airtime and data credit advance service, Xtratime, on April 16 as the company implemented processes required under Nigeria’s Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new licencing and compliance framework for digital lenders.

The results underscore how dependent MTN Nigeria’s fintech business has become on its airtime and data credit service. While its mobile money business continued to attract new users, the suspension of a single product was enough to push the entire fintech division into decline. 

The timing is significant as MTN Nigeria works to separate its fintech business, a transaction investors have closely watched as a key step toward unlocking the unit’s value. The telco said it has since resumed the service and expects fintech performance to recover in the second half of the year.

“With operations now recommenced, we expect activity levels to progressively ramp up through H2, supporting a stronger contribution from our fintech business over the remainder of the…