The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) are proposing regular joint audits of banks, telecom operators and other ecosystem players under a new national framework aimed at addressing persistent failures in airtime and data purchase transactions.
The proposal is contained in an exposure draft jointly issued by both regulators and dated February 5, 2026. The draft seeks to tackle growing consumer complaints arising from failed airtime and data transactions in which customers’ bank accounts are debited without successful service delivery.
According to the regulators, the framework is designed to establish clear accountability across the financial and telecommunications value chains, enforce uniform timelines for dispute resolution, and strengthen consumer protection and redress mechanisms.
Under the proposed framework, the CBN and NCC plan to conduct compliance audits of stakeholders either jointly or individually on a quarterly basis, or at other intervals deemed necessary. The audits will cover banks, mobile network operators, payment service providers, merchants and NCC-licensed entities involved in airtime and data vending.
The audits are expected to assess compliance with service level agreements (SLAs), operational capacity requirements and consumer protection obligations. The regulators also intend to introduce routine checks on partners to ensure that only licensed and authorised entities participate in airtime and data transactions, a move aimed at reducing system weaknesses linked to unlicensed intermediaries and poor platform integrations.
The draft framework further empowers the CBN and NCC to impose penalties where breaches are identified, strengthening enforcement beyond voluntary compliance.
A key feature of the proposal is the introduction of standardised service level agreements with strict timelines for transaction processing and refunds. For failed transactions, the framework mandates real-time notifications across banks, telecom operators and NCC-authorised licensees, with automated reversals expected within seconds once a failure is confirmed.
In cases where airtime or data delivery is unsuccessful, refunds are to be completed within 30 seconds in simulated or sandbox environments. The framework also limits transaction re-attempts by banks to a maximum of two to prevent multiple debits during network disruptions. Customers must be promptly informed of transaction outcomes, whether pending, failed or successful.
To improve transparency and oversight, the regulators are also proposing a central monitoring dashboard to be jointly managed by the CBN and NCC. The dashboard would provide real-time data on failed transactions, reversals, SLA breaches and consumer complaints across the ecosystem.
In addition, stakeholders will be required to maintain daily records of successful and failed transactions and share these reports with relevant parties. Banks, telecom operators and other participants would also be mandated to publish quarterly SLA compliance scorecards, a move regulators believe will encourage self-regulation, improve operational discipline and restore consumer confidence.
The exposure draft has been released for public consultation, with stakeholders invited to submit comments and feedback before the framework is finalised and implemented nationwide.
Source: Nairametrics