The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have launched a portal that enables financial institutions to track fraudulent and suspicious phone lines across the country.
The initiative, unveiled alongside the signing of a Memorandum of Understanding, MoU, between both regulators, is expected to enhance transparency, strengthen consumers protection and curb rising electronic fraud.
Speaking at the event, Executive Vice Chairman of NCC, Aminu Maida, said the agreement provides a frame work for collaboration in areas such as payment system integrity, fraud mitigation, digital inclusion and consumer protection.
He described the development as a major step in regulatory coordination, noting that the increasing use of mobile numbers for identity and financial transactions makes stronger collaboration necessary.
According to him, the Telecoms Identity Risk Management System, TIRMS, portal will provide financial institutions with real-time visibility into the status of phone numbers used for transactions.
“The portal aggregates data on churned or recycled lines and numbers flagged for suspicious activities. This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber,” he said.
He added that the initiative will significantly enhance efforts to combat fraud, particularly schemes driven through mobile channels.
Maida also noted that issues such as failed airtime recharges and transaction disputes would now receive faster resolution through coordinated regulatory action.
On his part, Governor of CBN, Olayemi Cardoso, said the partnership will strengthen coordination on regulatory approvals, technical standards, and innovation.
He noted that the inauguration of joint committees on payment systems, consumer protection and the portal will ensure continuous engagement and proactive response to emerging risks.
Cardoso added that the inauguration of two joint committees—on Payment Systems and Consumer Protection, and on the TIRMS portal—would ensure sustained engagement and proactive responses to emerging risks.
He stressed that the collaboration aligns with efforts to build a secure, resilient and inclusive financial system while promoting innovation and consumer safety.
