The Central Bank of Nigeria and the Nigerian Communications Fee are proposing common joint audits of banks, telecom operators and different ecosystem gamers as a part of a brand new nationwide framework geared toward tackling persistent failures in airtime and information buy transactions.
The proposal is contained in an publicity draft collectively issued by the 2 regulators and dated February 5, 2026, which seeks to handle rising client complaints linked to failed airtime and information purchases the place clients’ bank accounts are debited with out profitable service supply.
Below the draft framework, the regulators intend to institutionalise clear accountability throughout the monetary and telecommunications worth chains, implement uniform decision timelines, and strengthen client redress mechanisms.
What the doc says
In line with the framework, the CBN and NCC will conduct compliance audits of stakeholders both collectively or individually at quarterly intervals or at different durations deemed vital.
The doc revealed on the web site of the CBN on Monday learn, “The NCC and CBN will audit Stakeholder compliance collectively or individually at quarterly or different intervals as could also be decided.”
The audits will cowl banks, cell community operators, cost service suppliers, retailers and NCC-authorised licensees concerned in airtime and information merchandising.
The goal is to confirm adherence to service stage agreements, operational capability and client safety obligations.
The regulators additionally plan to introduce routine audits of companions to substantiate that solely correctly licensed and authorised entities are collaborating in airtime and information transactions.
This measure is meant to curb system weaknesses arising from unlicensed intermediaries and poor integrations throughout platforms.
As well as, the framework empowers the CBN and NCC to impose penalties the place breaches are recognized, reinforcing enforcement past voluntary compliance.
Actual-time reversals and standardised timelines launched
A significant pillar of the proposed framework is the introduction of unified service stage agreements with strict timelines for transaction processing and reversals.
- For failed transactions, the draft mandates real-time notifications throughout banks, NCC-authorised licensees and cell community operators, with automated reversals to clients anticipated inside seconds as soon as failure is confirmed.
- In instances of unfulfilled airtime or information supply, refunds are to be accomplished inside 30 seconds in simulated or sandbox environments.
- The framework additionally limits transaction re-attempts by banks to a most of two, with the intention to forestall a number of debits throughout community downtimes. Clients are to be notified promptly of transaction standing, together with pending, failed or profitable outcomes.
By standardising response codes and implementing end-to-end visibility throughout methods, the regulators goal to eradicate ambiguity over transaction standing, which has traditionally delayed refunds.
Central dashboard, SLA scorecards to spice up transparency
To strengthen monitoring and accountability, the draft framework proposes the creation of a central monitoring dashboard to be collectively hosted by the CBN and NCC.
The dashboard will observe failed transactions, reversals, SLA breaches and client complaints throughout the ecosystem, offering regulators with real-time visibility into systemic points.
Stakeholders will even be required to preserve each day stories of profitable and failed transactions and share them with related events.
In an extra transparency measure, banks, telcos and different individuals will likely be required to publish quarterly SLA compliance scorecards. The regulators imagine it will promote self-regulation, enhance operational self-discipline and restore client belief in digital airtime and information buy channels.
The publicity draft has been launched for public feedback, with stakeholders invited to submit suggestions earlier than the framework is finalised and enforced nationwide
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