Nigerian banks will now verify fraud-linked mobile numbers under new CBN–NCC agreement

Nigeria’s Central Bank and the Nigerian Communications Commission signed a formal agreement on Monday that gives banks real-time access to telecom data, a move designed to close one of the most exploited gaps in the country’s digital payments system.

At the centre of the Memorandum of Understanding is a data-sharing called the Telecom Identity Risk Management System (TIRMS), which will…