The Central Financial institution of Nigeria and the Nigerian Communications Fee have collectively unveiled a brand new shopper safety framework that ensures subscribers a refund inside 30 seconds each time airtime or information transactions fail.
The NCC disclosed this in an announcement asserting the collectively developed coverage, which is designed to handle persistent complaints from prospects who’re debited with out receiving the bought service.
In line with the Fee, the framework introduces stricter shopper notification guidelines and gives clear options to long-standing issues associated to failed, misdirected, or faulty airtime and information purchases.
The refund coverage applies no matter whether or not the transaction breakdown happens on the banking degree or by means of an NCC-licensed telecommunications operator, reflecting a coordinated regulatory stance throughout Nigeria’s monetary and telecoms sectors.
Underneath the brand new guidelines, any subscriber whose account is debited with out profitable supply of airtime or information is entitled to an computerized refund inside 30 seconds. Nonetheless, in instances the place a transaction stays pending, the refund interval might prolong to a most of 24 hours, after which the client should be totally reimbursed.
The NCC defined that duty for refunds is clearly outlined beneath the framework, whether or not the failure originates from a Deposit Cash Financial institution, a Cell Community Operator, or one other licensed service supplier. Compliance is strengthened by means of a binding Service Degree Settlement relevant to all taking part establishments.
Talking on the initiative, the NCC’s Director of Client Affairs, Freda Bruce-Bennett, revealed {that a} Central Monitoring Dashboard can even be established and collectively managed by the NCC and the CBN.
She mentioned the system will permit regulators to trace transaction failures, determine accountable events, affirm refunds, and monitor SLA breaches in actual time.
“Failed top-ups rank among the many high three shopper complaints, and in step with our dedication to addressing these precedence points, we had been decided to resolve it inside the shortest attainable time,” she mentioned.
“We’re grateful to all stakeholders—notably the Central Financial institution of Nigeria and its management—for his or her tireless dedication to resolving this difficulty and arriving at this framework, and for making certain that buyers of telecommunications companies obtain full worth for his or her purchases,” she added.
Bruce-Bennett famous that implementation of the framework is predicted to start on March 1, 2026, following last regulatory approvals and the completion of technical integration by all Cell Community Operators, Worth-Added Service suppliers, and Deposit Cash Banks.
She additional disclosed that, forward of the total rollout, telecom operators and banks have already refunded greater than ₦10 billion to prospects affected by failed airtime and information transactions.
Past refunds, the framework mandates banks and telecom operators to ship SMS notifications to prospects confirming the success or failure of each airtime and information transaction. This measure is geared toward boosting transparency and eliminating uncertainty for subscribers.
The coverage additionally addresses frequent shopper challenges reminiscent of faulty recharges to ported numbers, incorrect information or airtime purchases, and transfers made to the incorrect cellphone quantity. By standardising the dealing with of those points, regulators anticipate faster resolutions and fewer unresolved disputes.
Failed airtime and information transactions stay probably the most frequent shopper complaints in Nigeria’s telecoms sector. For hundreds of thousands of Nigerians who rely closely on cell connectivity for banking, work, and every day communication, delayed refunds typically lead to monetary pressure and misplaced productiveness.
With the introduction of near-instant refunds and obligatory transaction alerts, the brand new framework is predicted to considerably improve buyer expertise whereas compelling banks and telecom operators to strengthen their transaction programs and inner controls.
