CBN and NCC Unveil Telecom Identity Portal to Combat SIM-Linked Fraud

The Central Bank of Nigeria and the Nigerian Communications Commission have signed a partnership to fight SIM-related fraud and strengthen consumer protection in the digital economy. The agreement will improve coordination on fraud detection, payment system stability, and technical standards. It includes the launch of a Telecom Identity Risk Management Portal for real-time verification of phone numbers. The CBN Governor highlighted the need for shared intelligence, clear escalation paths, and ongoing public education to safeguard consumers. The NCC noted the pact will reduce failed transactions and speed up refunds. Two joint committees will oversee implementation. Regulators expect the collaboration to boost financial inclusion, lower fraud risks, and enhance confidence in Nigeria’s digital services.

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