The Central Bank of Nigeria and the Nigerian Communications Commission are proposing regular joint audits of banks, telecom operators and other ecosystem players as part of a new national framework aimed at tackling persistent failures in airtime and data purchase transactions.
The proposal is contained in an exposure draft jointly issued by the two regulators and dated February 5, 2026, which seeks to address rising consumer complaints linked to failed airtime and data purchases where customers’ bank accounts are debited without successful service delivery.
Under the draft framework, the regulators intend to institutionalise clear accountability across the financial and telecommunications value chains, enforce uniform resolution timelines, and strengthen consumer redress mechanisms.
What the document says
According to the framework, the CBN and NCC will conduct compliance audits of stakeholders either jointly or individually at quarterly intervals or at other periods deemed necessary.
The document published on the website of the CBN on Monday read, “The NCC and CBN will audit Stakeholder compliance jointly or individually at quarterly or other intervals as may be determined.”
The audits will cover banks, mobile network operators, payment service providers, merchants and NCC-authorised licensees involved in airtime and data vending.
The aim is to verify adherence to service level agreements, operational capacity and consumer protection obligations.
The regulators also plan to introduce routine audits of partners to confirm that only properly licensed and authorised entities are participating in airtime and data transactions.
This measure is intended to curb system weaknesses arising from unlicensed intermediaries and poor integrations across platforms.
In addition, the framework empowers the CBN and NCC to impose penalties where breaches are identified, reinforcing enforcement beyond voluntary compliance.
Real-time reversals and standardised timelines introduced
A major pillar of the proposed framework is the introduction of unified service level agreements with strict timelines for transaction processing and reversals.
- For failed transactions, the draft mandates real-time notifications across banks, NCC-authorised licensees and mobile network operators, with automated reversals to customers expected within seconds once failure is confirmed.
- In cases of unfulfilled airtime or data delivery, 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, in order to prevent multiple debits during network downtimes. Customers are to be notified promptly of transaction status, including pending, failed or successful outcomes.
By standardising response codes and enforcing end-to-end visibility across systems, the regulators aim to eliminate ambiguity over transaction status, which has historically delayed refunds.
Central dashboard, SLA scorecards to boost transparency
To strengthen monitoring and accountability, the draft framework proposes the creation of a central monitoring dashboard to be jointly hosted by the CBN and NCC.
The dashboard will track failed transactions, reversals, SLA breaches and consumer complaints across the ecosystem, providing regulators with real-time visibility into systemic issues.
Stakeholders will also be required to maintain daily reports of successful and failed transactions and share them with relevant parties.
In a further transparency measure, banks, telcos and other participants will be required to publish quarterly SLA compliance scorecards. The regulators believe this will promote self-regulation, improve operational discipline and restore consumer trust in digital airtime and data purchase channels.
The exposure draft has been released for public comments, with stakeholders invited to submit feedback before the framework is finalised and enforced nationwide
