The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have launched a new consumer refund framework that guarantees subscribers a refund within 30 seconds for failed airtime and data transactions. The framework, jointly developed by both regulators, aims to protect consumers who are debited without receiving the corresponding value and addresses long-standing issues with erroneous or misdirected airtime and data purchases.
Under the new policy, any customer who is debited but does not receive airtime or data is entitled to an automatic refund within 30 seconds. In cases where a transaction remains pending, the refund window may extend up to 24 hours, after which full reimbursement is mandatory. The framework strengthens consumer notification rules and ensures that users are promptly informed of transaction failures.
The framework applies whether the failed transaction originates from a Deposit Money Bank (DMB), a Mobile Network Operator (MNO), or another NCC-licensed service provider, reflecting a unified regulatory approach across Nigeria’s telecoms and financial services sectors. Responsibility for refunds is clearly assigned, and all participating institutions are bound by an enforceable Service Level Agreement (SLA) to ensure compliance.