Nigeria's telecommunications regulator, the Nigerian Communications Commission (NCC), and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding and inaugurated two joint committees aimed at protecting consumers and combating electronic fraud. The agreement establishes a framework for cooperation on payment system integrity, digital inclusion, and fraud mitigation, while a new Telecom Identity Risk Management System (TIRMS) portal will give financial institutions real-time visibility into the status of phone numbers — including whether a line has been swapped, disconnected, or flagged for suspicious activity. CBN Governor Olayemi Cardoso said the partnership would deliver a safer and more inclusive digital financial system, while NCC chief Aminu Maida noted that mobile numbers increasingly underpin identity and financial access, making cross-agency coordination essential to sound governance.