CBN, NCC propose joint audits, tougher rules to end failed airtime, data transactions

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have unveiled plans for regular joint audits of banks, telecom operators and other ecosystem participants as part of a proposed national framework to curb 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 growing consumer complaints arising from failed airtime and data transactions in which customers’ bank accounts are debited without successful service delivery.

According to the draft framework, the CBN and NCC intend to institutionalise clear accountability across the financial and telecommunications value chains, enforce uniform timelines for transaction resolution, and significantly strengthen consumer protection and redress mechanisms.

Under the proposed arrangement, the regulators will conduct compliance audits of stakeholders either jointly or independently at quarterly intervals, or at other times considered necessary.

A copy of the document published on the CBN’s website on Monday stated: “The NCC and CBN will audit Stakeholder compliance jointly or individually at quarterly or other intervals as may be determined.”

The audits will cover a wide range of participants, including deposit money banks, mobile network operators, payment service providers, merchants and NCC-authorised licensees involved in airtime and data vending.

The objective is to verify compliance with service level agreements (SLAs), assess operational capacity, and ensure adherence to consumer protection obligations.

In addition, the regulators plan to introduce routine audits of business partners to ensure that only properly licensed and authorised entities participate in airtime and data transactions.

This measure is aimed at eliminating system vulnerabilities caused by unlicensed intermediaries and weak integrations across multiple platforms.

The draft framework also empowers the CBN and NCC to impose penalties where breaches are identified, signalling a shift from reliance on voluntary compliance to stricter regulatory enforcement.

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A central feature of the proposed framework is the introduction of unified service level agreements with clearly defined and enforceable timelines for transaction processing and reversals.

For failed transactions, the draft mandates real-time notifications across banks, mobile network operators and NCC-authorised licensees, with automated refunds to customers expected within seconds once a transaction 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 restricts banks to a maximum of two transaction re-attempts, a move designed to prevent multiple debits during network disruptions. Customers must be promptly informed of transaction outcomes, whether pending, failed or successful.

By standardising response codes and enforcing end-to-end system visibility, the regulators aim to eliminate long-standing ambiguities around transaction status that have historically delayed refunds and heightened consumer frustration.

To enhance monitoring and oversight, the exposure draft proposes the creation of a central monitoring dashboard to be jointly hosted by the CBN and NCC.

The platform will track failed transactions, reversals, SLA breaches and consumer complaints across the ecosystem, giving regulators real-time insight into systemic challenges.

The exposure draft has been released for public comment, with stakeholders invited to submit feedback ahead of the framework’s finalisation and nationwide implementation.