MTN Nigeria fintech revenue drops 72% after Xtratime halt, mobile money jumps

MTN Nigeria’s fintech revenue plunged 72.4% year-on-year to ₦12.99 billion ($9.50 million) in Q2 2026 after the telecom operator temporarily suspended its airtime and data credit advance service, Xtratime, on April 16, 2026 to comply with Nigeria’s Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025. First-half fintech revenue fell 7.2% to ₦77.2 billion ($56.49 million).

Despite the fintech drag, MTN Nigeria posted one of its strongest half‑year performances: profit after tax jumped 70.6% to ₦707.54 billion ($517.69 million), total revenue rose 25.9% to ₦2.99 trillion ($2.19 billion), driven by 38.39% growth in data services and 11.99% growth in voice. The company ended the period with 92.2 million subscribers, 55.7 million active data users and declared an interim dividend of ₦26 per share.

Meanwhile, the mobile money business continued to expand—revenue grew approximately 132% and active MoMo wallets increased by 1.3 million to reach 5 million during the period. MTN said it has resumed Xtratime and expects fintech activity to ramp up through H2 2026. The telco is also progressing with the structural separation of its fintech business; shareholders have approved moving MoMo Payment Service Bank Limited and Y’ello Digital Financial Services Limited into a new holding company backed by MTN Group, which will inject ₦152.06 billion ($110.54 million) for a 60% stake while MTN Nigeria retains 40%. Both interests will be consolidated under a Central Bank of Nigeria‑regulated holding company, pending regulatory approval.

Will the fintech rebound offset the loss from Xtratime, and how will the new holding structure affect your access to MoMo services or potential investment in the unit?

SOURCE: https://techcabal.com/2026/07/31/mtns-airtime-lending-pause-drags-fintech-revenue/