CBN and NCC Sign MoU to Combat SIM Fraud in Nigeria

On a date not specified in the article, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) signed a Memorandum of Understanding (MoU) at the CBN headquarters in Abuja. The agreement aims to tackle SIM-related fraud and strengthen consumer protection across Nigeria's digital ecosystem.

CBN Governor Olayemi Cardoso emphasized the need for improved coordination between the financial and telecommunications sectors to combat electronic fraud linked to mobile numbers. The MoU is not merely an administrative document but a practical agreement to reinforce the stability and integrity of Nigeria's payment system.

It includes provisions for technical standards, innovation trials, and a data-sharing platform designed to detect fraud. NCC Vice Chairman Aminu Maida described the agreement as a significant step in strengthening Nigeria's digital economy.

The partnership will also establish joint committees to drive implementation and address issues such as failed airtime and data transactions.