CBN, NCC sign MOU on Data sharing to boost financial stability fraud prevention

Abdullateef Fowewe

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have formalised a partnership through a Memorandum of Understanding (MOU) on data sharing and information management, aimed at enhancing coordination between the banking and telecom sectors.

A statement obtained from CBN revealed that the agreement was signed on Monday, April 20, 2026, at the CBN headquarters in Abuja by CBN Governor Olayemi Cardoso and NCC Executive Vice Chairman/Chief Executive Officer Dr Aminu Maida.

Photos from the event captured the document handover and a ceremonial handshake, marking a key step in regulatory collaboration.

In a statement, the CBN confirmed the signing, highlighting its role in supporting financial system stability, advancing Nigeria’s digital economy, combating fraud, and improving consumer data handling.

“This MOU will foster seamless information exchange to drive efficiency and protect Nigerians in the evolving fintech landscape,” the statement noted.