CBN, NCC propose audits of banks, telcos operators over airtime failures
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) are proposing regular joint audits of banks, telecom operators and other ecosystem players as part of a new national framework aimed at tackling 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 rising consumer complaints linked to failed airtime and data purchases where customers’ bank accounts are debited without successful service delivery.
Under the draft framework, the regulators intend to institutionalise clear accountability across the financial and telecommunications value chains, enforce uniform resolution timelines, and strengthen consumer redress mechanisms.
According to the framework, the CBN and NCC will conduct compliance audits of stakeholders either jointly or individually at quarterly intervals or at other periods deemed necessary.
The document published on the website of the CBN on Monday read, “The NCC and CBN will audit Stakeholder compliance jointly or individually at quarterly or other intervals as may be determined.”
The audits will cover banks, mobile network operators, payment service providers, merchants and NCC-authorised licensees involved in airtime and data vending.
The aim is to verify adherence to service level agreements, operational capacity and consumer protection obligations.
The regulators also plan to introduce routine audits of partners to confirm that only properly licensed and authorised entities are participating in airtime and data transactions.
This measure is intended to curb system weaknesses arising from unlicensed intermediaries and poor integrations across platforms.
In addition, the framework empowers the CBN and NCC to impose penalties where breaches are identified, reinforcing enforcement beyond voluntary compliance.
