Pecohub The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) aimed at strengthening consumer protection, combating fraud, and unlocking opportunities across the telecommunications and financial services sectors.
This was disclosed in a statement released on Monday by the Head of Public Affairs Department at the NCC, Nnenna Ukoha.
According to the statement, the agreement was formalised alongside the inauguration of two joint committees: the Joint Committee on Payment Systems and Consumer Protection, and the Joint Committee on Telecoms Identity Risk Management System (TIRMS) Portal.
Executive Vice Chairman and Chief Executive Officer of the NCC, Dr Aminu Maida, said the partnership creates a structured framework for collaboration in areas such as payment system integrity, fraud mitigation, digital inclusion, and protection of consumers as well as micro, small and medium enterprises.
- According to him, the arrangement is expected to strengthen trust, deepen inclusion, and support a secure and resilient digital economy.
- He described the MoU as a milestone in Nigeria’s regulatory oversight of the digital economy, noting that it reflects a shared commitment by both institutions to financial stability, digital inclusion, and consumer protection in an increasingly connected ecosystem.
- Maida said the NCC places strong emphasis on collaboration, adding that many of the sector’s milestones have been achieved through strategic partnerships.
He cited the recent resolution of the long standing USSD debt dispute between telecom operators and banks as evidence of the value of coordinated regulation.
