CBN, NCC Introduce Framework to End Failed Airtime and Data Transactions
By Momodu Favour
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have jointly unveiled a new regulatory framework aimed at eliminating persistent failures in airtime and data purchase transactions, a long-standing source of frustration for telecom subscribers across the country.
Under the proposed framework, customers whose airtime or data purchases fail will be entitled to prompt refunds, with the regulators pushing for automated reversals rather than manual intervention.
The exposure draft emphasises “automatic system-triggered reversals” supported by end-to-end transaction visibility and standardised error codes across banks, mobile network operators (MNOs), and other players in the value chain.
To curb repeat debits and prolonged delays, the framework introduces strict controls on transaction retries. Banks are required to limit reattempts to a maximum of two, while customers must receive real-time notifications clearly stating whether a transaction is successful, pending, or failed.
On accountability, the regulators made it clear that failed transaction notifications will now carry financial consequences. According to the document, “notifications of failure create final settlement obligations between MNOs and NCC-authorised licensees,” effectively closing loopholes that previously allowed delayed or disputed refunds.
The framework also establishes a structured dispute resolution mechanism among stakeholders.
Disputes relating to airtime and data transaction failures are to be resolved first through bilateral engagement between affected parties. Where issues remain unresolved after five working days, they will be escalated to both the CBN and NCC for regulatory intervention.
To strengthen oversight and enforcement, the draft proposes the creation of a Central Monitoring Dashboard jointly hosted by the CBN and NCC.
The dashboard will track transaction reversals, service-level agreement (SLA) breaches, and customer complaints in real time, giving regulators nationwide visibility into transaction performance across the banking and telecom sectors.
Industry observers say the framework, if fully implemented, could significantly improve consumer confidence in digital payments and telecom services, while forcing tighter coordination between banks and mobile network operators.
The exposure draft is expected to undergo stakeholder consultations before final adoption.
