CBN and NCC Join Forces to Crush Electronic Fraud via New Telecom Identity Portal
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have signed a strategic Memorandum of Understanding (MoU) to tighten security within Nigeria’s digital economy.
The pact, signed by CBN Governor Olayemi Cardoso and NCC Executive Vice Chairman Aminu Maida, focuses on protecting consumers from increasingly sophisticated electronic fraud.
A central feature of this agreement is the rollout of the Telecom Identity Risk Management Portal.
This platform allows financial institutions real-time visibility into telecom data, enabling them to track suspicious mobile activity such as:
SIM Swaps and recycled phone lines.
Flagged numbers linked to fraudulent accounts.
Reassigned identifiers used in mobile banking.
Governor Cardoso emphasized that as more Nigerians rely on digital channels for their livelihoods, the interdependence between finance and telecommunications must be secured.
The MoU also addresses payment system stability, QR-based payments, and the prompt resolution of consumer issues like undelivered airtime value.
#CBN #NCC #DigitalEconomy #CyberSecurity #NigeriaFinance #SIMSwap #FraudPrevention #OlayemiCardoso
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