relationships, cooperation and collaboration with sister regulatory agencies between the banking and telecommunications sectors to evolve services that are fair to the consumer.
He noted that in the earlier years, at the inception of the Commission, the concern was more around liberalizing the industry to encourage more participants to drive competition, adding that this was done with the consumer being the focal point of the Commission’s regulatory activities. “The launch of the Nigerian National Broadband Plan 2020-2025 attests to the fact that Nigeria is poised to join the comity of nations and become a global leader in transforming its economy into a digital one.
“Many of the financial and commercial activities undertaken by humans have been digitized, they are fused into what is now referred to as Digital Economy that has grown to be so strategic that Nigeria promptly formulated a policy, the National Digital Economy Policy and Strategy 2020-2030. “The pillar will address the importance of cybersecurity and other standards, frameworks, and guidelines that encourage citizens to go digital. Data privacy and the deployment of technologies like the public key infrastructure are addressed in this pillar.”
“However, some of these consumers must cope with vulnerabilities in using digital financial services. These challenges of adapting to digital platforms for transactions are further worsened by unscrupulous people that exploit consumer vulnerabilities for illicit gains. “Through its Consumer Affairs Bureau , it undertakes constant Consumer Education with a significant part of this effort dedicated to providing information that equips the Consumer to thrive in a world that has embraced digital finance.
“The TELCARE desk is to serve as an additional platform to receive and facilitate the resolution of consumer complaints; provide a means through which consumers and citizens can make inquiries on consumer issues; provide a platform for advocacy on any thematic consumer issue or concerns; to further enhance awareness of the Commission’s activities.
“As we address the threat and challenges to those that are already connected to digital finance, the Commission is mindful of those that are yet to be connected because of coverage issues.
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