The Central Bank of Nigeria and the Nigerian Communications Commission have unveiled a joint framework to tackle the growing problem of failed airtime and data transactions, which have left consumers frustrated after payments are processed without service delivery. The regulators seek to clarify accountability, standardise complaint resolution timelines, and create a coordinated system for addressing grievances across both the financial and telecommunications sectors. The CBN emphasised that the framework represents a collaborative effort between the banking and telecommunications sectors to protect consumers and streamline complaint resolution processes. In January, Nigerian banks and telecommunications companies were given a deadline of March 1, 2026, to implement a new refund framework developed by the NCC and CBN to address these complaints. Director of Consumer Affairs at the NCC, Freda Bruce-Bennett, disclosed that the framework also establishes a Central Monitoring Dashboard to be jointly hosted by the NCC and the CBN.

Source: Punch February 09, 2026 19:16 UTC