CBN, NCC Launches Portal to Curb SIM-Swap Fraud
By Patience Ikpeme
Nigeria has taken a major step to tackle rising cases of electronic fraud with the launch of a new system designed to protect bank customers and mobile phone users across the country.
The initiative, known as the Telecom Identity Risk Management Portal (TIRMP), was introduced following an agreement between the Central Bank of Nigeria and the Nigerian Communications Commission.
The agreement was formalised on Monday through a Memorandum of Understanding aimed at strengthening cooperation between the financial and telecommunications sectors.
At the centre of the new arrangement is a secure platform that allows banks and financial technology companies to instantly confirm the status of any mobile phone number. This means they can quickly detect if a number has been recently swapped, disconnected, or reassigned, helping to stop fraud before it happens.
Governor of the Central Bank, Olayemi Cardoso, described the agreement as a necessary move as Nigeria’s economy becomes more dependent on digital transactions.
According to him, the growing use of instant payments, QR codes, and open banking systems makes it important to ensure that the infrastructure supporting them is safe and reliable.
“This MoU is not merely an administrative document—it is a practical statement of national interest,” he said, adding that a stronger telecommunications system will help make financial services more accessible and efficient for Nigerians.
He explained that the new portal creates a direct link between telecom data and financial services, allowing institutions to respond faster to suspicious activities. Cardoso also noted that regulators will now work more closely, giving banks, mobile operators, and payment service providers clearer and more predictable oversight.
While encouraging innovation in the digital space, he warned that operators must invest in strong systems and respond quickly to customer complaints to maintain public confidence.
Cardoso further explained that as more Nigerians depend on digital platforms for their daily transactions and livelihoods, protecting these systems has become critical. He said the new framework goes beyond previous arrangements by introducing a more coordinated and forward-looking approach to managing risks.
On his part, the Executive Vice Chairman and Chief Executive Officer of the NCC, Dr. Aminu Maida, said the platform will give financial institutions better insight into the status of mobile numbers, which are widely used in banking and payments.
“The Financial Services Industry will now have enhanced visibility into the status of phone numbers,” Maida said, noting that this will help institutions identify suspicious or flagged lines before fraudulent transactions are completed.
He added that the partnership ensures that growth in mobile-based financial services is supported by strong regulation and system stability.
To make sure the agreement delivers real results, both agencies have set up two joint committees. One will oversee the implementation of the new portal, while the other will focus on payment systems and consumer protection.
The collaboration is also expected to improve how customer complaints are handled. Maida said issues such as failed airtime purchases or unsuccessful transactions will now be resolved more quickly, bringing relief to users, especially small businesses and vulnerable groups who are often most affected by such problems.
With the launch of the TIRMP, authorities believe Nigeria is better positioned to reduce fraud linked to mobile numbers and build greater trust in the country’s fast-growing digital economy.
