… As New draft framework targets wrong-number transfers, over-purchases, failed transactions, expanding consumer protection in Nigeria’s digital economy
By|| Goodluck E. Adubazi || Abuja.
Nigeria’s telecom and financial regulators are proposing a sweeping new consumer protection regime that would require 24-hour refunds for common airtime and data mistakes, including over-purchases and transfers to the wrong phone number.
In a joint exposure draft released on Monday, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) outlined a framework aimed at ending long-standing complaints over the absence of refunds for erroneous airtime and data transactions. The proposal introduces clear rules, legal thresholds, and standardised timelines, while formally holding mobile network operators (MNOs), NCC-licensed service providers, and banks accountable for consumer errors.
Under the draft framework, subscribers who mistakenly over-purchase airtime or data would be entitled to a reversal within 24 hours of lodging a complaint. For airtime or data sent to the wrong number, refunds would depend on transaction value. Transfers of ₦20,000 ($14.64) and above would require an affidavit of indemnity or a notarised indemnity letter, while transactions between ₦1,000 ($0.73) and ₦20,000 would be reversed subject to recipient consent, coordinated by the mobile network operator. All eligible reversals are to be completed within 24 hours.
The proposal builds on earlier regulatory moves to strengthen consumer redress in Nigeria’s digital services ecosystem.
In January, it was reported that the CBN and NCC planned to introduce near-instant refunds for failed airtime and data transactions from March 1, 2026, with subscribers entitled to a refund within 30 seconds if debited without receiving value.
The newly released draft expands that effort to cover mistaken purchases, an area that has generated growing consumer frustration. “This development buttresses the need for the proposed framework to institutionalise clear accountability, standardise resolution timelines, and ensure a sustainable, coordinated approach to consumer redress across the financial and telecommunications ecosystems,” said Aisha Isa-Olatinwo, director of consumer protection and financial inclusion.
If adopted, the framework would allow subscribers to lodge complaints with either their bank or mobile network operator for cases involving failed transactions, wrong-value purchases, or transfers to incorrect numbers. Banks and MNOs would be required to establish formal dispute resolution processes, document all claims, and resolve them within defined service-level timelines.
For oversight, the regulators plan to deploy a central monitoring system to track reversals, service-level breaches, and customer complaints. “This will facilitate the establishment of a real-time national ‘Failed Transactions Dashboard’ with uniform error code, with end-to-end visibility across the value chain,” the document stated.
Subscribers whose complaints remain unresolved after five working days would be able to escalate the matter directly to the CBN or NCC.
If implemented, the framework would significantly expand consumer rights for millions of Nigerians who depend on digital channels for everyday airtime and data purchases, marking one of the most comprehensive efforts yet to standardise refunds across the country’s financial and telecommunications sectors.
