The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have unveiled plans to carry out regular joint audits of banks, telecom operators and other ecosystem players as part of a new national framework aimed at ending persistent airtime and data purchase failures.
The proposal is contained in an exposure draft jointly issued by the two regulators on February 5, 2026, and published on the CBN’s website on Monday.
It seeks to address rising consumer complaints over failed airtime and data transactions in which customers’ bank accounts are debited without successful service delivery.
Under the draft framework, the regulators plan to enforce clear accountability across the financial and telecommunications value chains, standardise dispute resolution timelines, and strengthen consumer protection mechanisms.
According to the document, the CBN and NCC will conduct compliance audits either jointly or independently on a quarterly basis, or at other intervals deemed necessary. “The NCC and CBN will audit stakeholder compliance jointly or individually at quarterly or other intervals as may be determined,” the document stated.
The audits will cover banks, mobile network operators, payment service providers, merchants, and NCC-licensed entities involved in airtime and data vending.
The regulators said the exercise will verify compliance with service level agreements (SLAs), operational capacity standards, and consumer protection obligations.
In addition, the framework introduces routine partner audits to ensure that only properly licensed and authorised entities participate in airtime and data transactions, a move aimed at eliminating failures linked to unlicensed intermediaries and weak system integrations.
The draft also empowers both regulators to impose penalties for identified breaches, signalling a shift from voluntary compliance to stricter enforcement.
A major feature of the proposed framework is the introduction of unified SLAs with strict timelines for transaction processing and refunds.
For failed transactions, the draft mandates real-time notifications across banks, mobile network operators and NCC-authorised licensees, with automated reversals expected within seconds once a failure is confirmed.
In cases where airtime or data delivery is not fulfilled, refunds must be completed within 30 seconds in simulated or sandbox environments.
To prevent multiple debits during network disruptions, banks will be limited to a maximum of two transaction re-attempts, while customers must be promptly informed of transaction status, pending, failed or successful.
By standardising response codes and enabling end-to-end system visibility, the regulators aim to eliminate delays and confusion that have historically slowed refunds.
To boost transparency and monitoring, the framework proposes a central monitoring dashboard, 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 visibility into systemic issues.
Stakeholders will also be required to maintain daily transaction reports and share them with relevant parties.
In a further push for accountability, banks, telecom operators and other participants will be mandated to publish quarterly SLA compliance scorecards, a move the regulators believe will encourage self-regulation, improve service quality and rebuild consumer trust.
The exposure draft has been released for public consultation, with stakeholders invited to submit comments before the framework is finalised and implemented nationwide.
