The Central Bank of Nigeria (CBN) has announced plans to collaborate with the Nigerian Communications Commission (NCC) to develop an industry-wide short code that will enable consumers to interact with their financial service providers anytime and from anywhere—whether or not they have internet access.
The initiative was revealed by the Director, Consumer Protection and Financial Inclusion Department at the CBN, Dr. Aisha Isa-Olatinwo, during a virtual Consumer Protection Town Hall meeting titled “Ask the Regulator”, organized by Enhancing Financial Inclusion and Advancement (EFInA) on Wednesday.
According to Isa-Olatinwo, the unified short code will simplify communication between customers and financial institutions by providing a single, streamlined channel for essential services such as account access, transaction verification, complaint resolution, and fraud reporting.
She noted that the project aligns with the CBN’s commitment to strengthening financial inclusion and improving consumer protection, especially for underserved populations who may have limited access to smartphones or stable internet connectivity.
“This initiative will ensure that consumers can reach their financial institutions easily and securely, regardless of their location or device type,” she said, adding that the collaboration with the NCC will help ensure uniformity, security, and wide accessibility across all networks.
The town hall session also provided a platform for stakeholders to engage directly with regulators, raise concerns, and receive clarity on consumer protection policies within the financial sector.
The planned short code is expected to boost user convenience, enhance trust in digital financial services, and further expand access to the formal banking system.
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