In furtherance to ensure safety and to curb the use of telecommunications networks to defraud bank customers, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) are in advanced stage to sign a Memorandum of Understanding (MoU)
The MoU will provide guideline campaign to enlighten banking and mobile subscribers on methods that fraudsters use to perpetrate financial frauds using telecommunications and Internet platforms.
It is understood that banking services fail under the purview of the CBN, it was obligatory for both industry regulators to collaborate because customers funds were been siphoned through platforms provided by telecommunications network operators.
The Head, Zonal Operations Department, NCC, Mrs. Helen Obi, disclosed the collaboration between NCC and CBN at the eight edition of the Consumer Conversation in the North-Central Zone held in Abuja on Tuesday.
“As a result of online payments, there are a lot of collaborations, which have become necessary between the NCC and the CBN. So both parties have recognised that fact and we are making sure that customers and consumers in the banking and telecom sectors are not short-changed.
“Along that line, we are discussing on common grounds to come up with a Memorandum of Understanding that will guide the sectors and regulate banks and telecommunications service providers.”
On what the regulatory agency was doing to check wrong billing by mobile operators, Obi said that the NCC was ensuring that the operators complied with price ceilings and price floors that had been given to them.
Further, she said that customers who had been overbilled should complain to the operators and should the operators fail to resolve the issues, the customers should explore several channels that the commission had instituted to escalate the complaints.
