According to Premium Times, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have finalized a joint regulatory framework to address the persistent issue of failed airtime and data purchases. The new policy mandates that subscribers who are debited without receiving value must be refunded within a specified short window, significantly reducing the current resolution time which often stretches into days.
The framework introduces a Central Monitoring Dashboard, which will be co-hosted by the two regulators. The dashboard is designed to provide real-time visibility into transaction failures across Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs), ensuring providers are held accountable for technical glitches and system downtimes.
Stakeholders including Value Added Service (VAS) providers and financial institutions participated in months of negotiations to reach the agreement. Regulators say it responds to a surge in complaints about “hanging” funds during network instabilities, which has eroded trust in the digital economy.
The Punch reports that banks and telecom operators have been given a March 1, 2026 deadline to fully implement the new refund framework, while BusinessDay highlights the technical target of near-instant refunds for failed airtime and data purchases to match the pace of modern fintech competitors.
Echotitbits take: This is a major win for consumer rights in Nigeria’s digital space. By integrating NCC and CBN monitoring systems, the policy reduces the long-running “blame game” between banks and telcos. If implemented well, it could lift digital transaction volumes as confidence improves.
Source: The Punch – https://punchng.com/ncc-cbn-unveil-refund-framework-for-failed-airtime-data-transactions/ 2026-01-09
Photo Credit: The Punch