The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have unveiled sweeping proposals aimed at finally ending failed airtime and data purchase transactions across Nigeria’s banking and telecoms ecosystem.
The measures are contained in an exposure draft of a joint CBN–NCC framework on failed airtime and data transactions, dated February 5 and released on Monday.
Under the proposed rules, customers must receive automatic and instant refunds whenever their accounts are debited without successful delivery of airtime or data.
Instant Reversals, Real-Time Tracking
The draft defines failed transactions as cases where subscribers are charged but do not receive the service paid for. It applies to banks, mobile network operators (MNOs), merchants, aggregators, fintechs, and NCC-licensed operators.
All stakeholders will be required to deploy automatic reversal systems, ensuring affected customers are refunded without delays or manual complaints.
To address transparency gaps, the regulators are proposing real-time transaction codes, automated customer alerts, and a central monitoring platform.
“There shall be a Central Monitoring Dashboard hosted by CBN and NCC for tracking reversals, SLA breaches, and customer complaints,” the framework states.
The dashboard will provide end-to-end visibility across banks, telecom operators, and payment intermediaries, using standardised error codes nationwide.
Mandatory Suspension During Network Downtime
In a major consumer protection move, the framework mandates that all airtime and data transactions must be suspended if network outages last longer than 10 minutes.
Customers must be notified immediately, and any funds collected during service outages must be reversed in full.
24-Hour Refund Deadline
For transactions with unclear outcomes, banks and MNOs must introduce a “pending” error code, with such transactions treated as failed and reversed within 24 hours.
Issuing banks will also be required to process instant refunds for transaction timeouts, while regulators will actively monitor compliance and publish breach reports.
Audits, Penalties, and Accountability
To enforce compliance, the framework proposes routine audits of banks, telecom firms, and their partners. Regulators will assess licensing status, technical capacity, and adherence to service level agreements (SLAs).
Stakeholders must also submit daily reports on successful and failed transactions to aid corrective action.
Rules for Wrong or Excessive Top-Ups
The document outlines procedures for erroneous airtime or data purchases, including wrong-number transfers and excessive top-ups.
For transactions above ₦20,000, customers must submit an Affidavit of Indemnity or notarised letter. For amounts between ₦1,000 and ₦19,999, recovery will require the recipient’s consent through the MNO.
Where airtime or data has been partially used, recovery may involve liens on future credits or refunds minus administrative charges.
Stronger Consumer Protection
The framework also mandates:
- Real-time refund updates for customers
- Standardised price display formats
- Resolution of customer complaints within 24 hours
- Compliance with data protection laws
- Standardised APIs to reduce integration failures
