The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) are set to unveil a joint framework aimed at addressing refunds for failed airtime and data transactions across the country.
The initiative is designed to protect consumers from financial losses arising from unsuccessful mobile recharge and data purchase attempts, which have long been a source of complaints among telecom subscribers.
According to industry stakeholders, the new framework will establish clear guidelines for handling failed transactions, define timelines for automatic refunds, and outline the responsibilities of mobile network operators, banks and payment service providers.
The NCC said the move aligns with its mandate to safeguard consumer rights and improve service quality within the telecommunications sector, while the CBN noted that the collaboration would strengthen confidence in Nigeria’s digital payment ecosystem.
Under the proposed arrangement, subscribers are expected to receive prompt refunds without the need for repeated complaints, as systems will be put in place to detect and reverse unsuccessful transactions automatically.
Officials from both regulators are expected to formally present the framework in the coming weeks, following consultations with telecom operators, financial institutions and other key stakeholders.
The development is expected to significantly reduce disputes over failed transactions and enhance transparency, accountability and consumer trust in mobile and electronic payment services nationwide.