Mirian Gom 
Central Bank of Nigeria headquarters in Abuja
ABUJA, Nigeria – The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) sign a pact to combat SIM-related fraud and strengthen consumer protection.
CBN Governor Olayemi Cardoso on Monday described the agreement as critical to safeguarding Nigeria’s digital economy.
“This is a practical statement of national interest,” he says.
The partnership aims to improve coordination between financial and telecom sectors, enhancing payment system security.
A key feature is the Telecom Identity Risk Management Portal, designed to detect fraud linked to phone numbers.
“This will enable real-time verification across banks and fintech firms,” Cardoso explains.
NCC Executive Vice Chairman Aminu Maida says collaboration is essential.
“Strengthening Nigeria’s digital economy requires joint regulatory action,” he states.
The initiative also focuses on intelligence sharing, fraud detection and public awareness.
Experts say the move could significantly reduce electronic fraud and improve trust in digital transactions.
About the Author
Oluwafunbi Bello 
Oluwatobi Adu 