Iyunade Grace
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have proposed suspending airtime and data sales during network outages lasting over 10 minutes to curb failed transactions. This move aims to protect consumers and ensure they aren’t debited without receiving services.
The proposal is part of a broader effort to address the long-standing issue of failed transactions in Nigeria’s telecom sector. According to reports, over 7 million transactions fail monthly, leaving customers frustrated and often unable to recover their funds.
The proposed framework outlines instant reversals for failed transactions, with customers receiving refunds within 30 seconds. This is expected to boost consumer confidence in digital transactions and reduce complaints.
A Central Monitoring Dashboard will track reversals, SLA breaches, and customer complaints in real-time. This will enable regulators to identify patterns and take proactive measures to prevent future outages.
Telecom operators and banks will be held accountable for failed transactions. Routine audits will ensure compliance with the new framework, and penalties will be imposed on non-compliant institutions.
The framework also emphasizes standardized price display formats and timely responses to customer complaints. This will help reduce disputes and improve overall customer experience.
Consumer rights groups have welcomed the proposal, praising the regulators for prioritizing consumer welfare. They argue that the move will promote transparency and fairness in the telecom sector.
The CBN and NCC are working with stakeholders to finalize the framework, which is expected to be implemented by March 1, 2026. The implementation timeline may be adjusted based on feedback from industry players.
The proposed suspension of airtime and data sales during outages is seen as a bold step towards protecting consumers. If implemented effectively, it could set a precedent for other countries to follow.
The success of this initiative will depend on effective enforcement and collaboration between regulators, telecom operators, and banks.
