The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have partnered to tackle rising SIM-enabled fraud with the launch of a Telecoms Identity Risk Management System (TIRMS) Portal.
The initiative is designed to track and manage risks linked to mobile numbers, which are increasingly used for financial transactions and identity verification.
Under the system, data on recycled phone numbers and those flagged for suspicious activity will be aggregated, giving financial institutions better visibility into the status of mobile lines.
NCC Executive Vice Chairman, Aminu Maida, said the collaboration provides a framework to strengthen payment system integrity, protect consumers and support a more secure digital economy.
He noted that the partnership builds on previous cooperation between both regulators, including efforts to resolve the USSD debt crisis, and reflects a broader strategy to address cross-sector challenges.
According to him, the platform will enable banks and other financial institutions to detect when a number has been reassigned, swapped or flagged for fraud, improving their ability to prevent electronic fraud.
CBN Governor, Olayemi Cardoso, said the agreement would enhance coordination in areas such as technical standards, approvals and innovation, while safeguarding financial system stability.
Both agencies also inaugurated joint committees on payment systems and consumer protection, aimed at strengthening oversight, improving response to emerging risks and boosting trust in Nigeria’s digital financial ecosystem.
