Nigeria’s fight against digital fraud took a decisive turn on Monday as the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) formalised a landmark partnership through the CBN–NCC MoU on SIM fraud to combat SIM-related fraud and strengthen consumer protection across the country’s fast-growing digital ecosystem.
The CBN–NCC MoU on SIM fraud, signed in Abuja, is more than a regulatory handshake it represents a strategic shift toward deeper integration between Nigeria’s financial and telecommunications sectors at a time when mobile-driven transactions are at an all-time high.
Telecom Identity Risk Management Portal: A Game Changer
At the heart of the agreement is the introduction of the Telecom Identity Risk Management Portal, a real-time data-sharing platform designed to track and flag suspicious mobile number activities.
The portal is expected to allow banks, fintech firms, and telecom operators to instantly verify the status of a phone number whether it has been swapped, recycled, or blacklisted.
This innovation addresses a long-standing loophole in Nigeria’s digital ecosystem, where fraudsters exploit SIM registration gaps and delayed verification systems to access victims’ bank accounts.