The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have taken a joint step to address the persistent problem of failed airtime and data purchases that leave customers debited without service delivery, unveiling a new framework aimed at tightening accountability across the payments and telecoms ecosystem.
The proposed in an exposure draft published on the CBN’s website yesterday in was developed by the apex bank’s Consumer Protection & Financial Inclusion Department in collaboration with the telecoms regulator, the framework reflects input from banks, mobile network operators, payment service providers and other industry stakeholders.
At the heart of the initiative is an attempt to bring order to a fragmented process that has fuelled rising consumer complaints, particularly as digital payments and mobile services deepen across Nigeria. The regulators said the framework is intended to clarify responsibility for transaction failures, standardise complaint resolution timelines and establish a coordinated redress mechanism spanning both sectors.
