Yemisi Izuora
The Nigerian Communication Commission (NCC) in collaboration with the Central Bank of Nigeria (CBN) are proposing a 30-minute refund deadline for failed airtime and data purchase transactions.
The move aims at strengthening consumer protection and restoring confidence in the country’s digital payments ecosystem.
The proposal is contained in the Exposure Draft of the Joint CBN–NCC Framework for Resolution of Failed Airtime and Data Purchase Transactions, released on Tuesday by the CBN) and the NCC.
The draft framework seeks to resolve persistent complaints from bank customers whose accounts are debited without the successful delivery of airtime or data by mobile network operators (MNOs), a long-standing issue that has fuelled disputes over liability between banks and telecom firms.
Aisha Isa-Olatinwo, Director of the CBN’s Consumer Protection and Financial Inclusion Department, explained that the document underscores the need to institutionalise accountability across the financial and telecommunications value chain.
A central feature of the proposal is the creation of a Central Monitoring Dashboard, to be jointly hosted by the CBN and NCC.
The platform will provide regulators with real-time, end-to-end visibility into transaction failures, reversals and compliance with agreed Service Level Agreements (SLAs).
Under the framework, industry stakeholders will also be required to publish quarterly SLA compliance scorecards, a measure designed to promote transparency, peer accountability and self-regulation within the ecosystem.
To address the technical drivers of failed transactions, the regulators proposed mandatory real-time validation of ported numbers before airtime or data recharges are processed, in order to prevent credits to inactive or migrated lines.
Banks will also be required to limit transaction re-attempts to a maximum of two, reducing the risk of multiple debits for a single purchase.
In addition, customers must receive automated SMS notifications confirming whether a transaction has been successful or failed, improving transaction clarity and customer awareness.
The CBN and NCC said they would conduct quarterly compliance audits and impose sanctions for breaches of prescribed timelines and responsibilities, signalling a tougher enforcement posture.
Stakeholders, including Deposit Money Banks, Mobile Network Operators and Payment Service Providers, have until February 20, 2026, to submit comments before the framework is finalised.
The regulators said the initiative reflects growing inter-agency collaboration aimed at safeguarding system integrity and reinforcing trust in Nigeria’s rapidly expanding digital financial services landscape