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The Nigerian Communications Commission (NCC) and Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding to boost consumer protection.

NCC spokesperson, Nnenna Ukoha, disclosed this in a statement on Monday in Abuja.

She said the agreement would also combat fraud across telecommunications and financial sectors.
Ukoha said the MoU was formalised alongside inauguration of joint committees on payment systems, consumer protection, and the Telecoms Identity Risk Management System portal.

NCC Executive Vice Chairman, Aminu Maida, said the pact provided a framework for collaboration on payment integrity, fraud mitigation, digital inclusion, and consumer protection.
He said the initiative would deliver outcomes that strengthen trust, deepen inclusion, and support a secure digital economy.
Maida described the signing as a milestone, reflecting both institutions’ commitment to financial stability and consumer protection in an interconnected ecosystem.

“The Commission places significant importance on collaboration. Many milestones in addressing industry challenges came through strategic partnerships,” he said.

He recalled NCC and CBN intervention in resolving the USSD debt impasse, restoring confidence among consumers, telecom operators, and financial institutions.

According to him, the MoU will promote secure digital payments and expand access to underserved populations and small businesses.

Maida said the TIRMS portal would help curb electronic fraud by offering real-time insights into phone number status.
“This includes whether a line is active, swapped, disconnected, reassigned, or flagged for suspicious activity.

“This will significantly improve financial institutions’ ability to combat phone-linked fraud,” he said.
He said the collaboration would also ensure prompt resolution of consumer complaints, including failed airtime recharges.

CBN Governor, Olayemi Cardoso, said the MoU would improve coordination on approvals, standards, and innovation, including sandbox testing.
Cardoso reaffirmed the bank’s commitment to building a safer, more resilient, and inclusive digital financial system.

“Going forward, the Central Bank remains committed to working with the Commission to protect consumers and strengthen trust in the digital economy,” he said.
He inaugurated the joint committees, noting they would prioritise consumer protection and fraud prevention.

The initiative is expected to boost confidence while addressing risks in converging telecoms and financial services.

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Having waited patiently for the Asset Management Team and the Sterling Global Oil Exploration and Energy Company, working with the NNPC Exploration and Production Limited (NEPL) to operationalise the Petroleum Industry Act (PIA) ,Delta State host communities under OML 26 have said they can no longer wait and are now prepared to take their destinies in their hands.

This was contained in a statement signed by Erere Okpako and Angela Akpofa
For Isoko Grassroots Mobilizers.

According to the group, Chapter 3 of the PIA is very clear about the responsibility of the Settlor to the host communities.

“It is expected that three percent of the settlors yearly Operating Expenditure (OPEX) is set aside for community development through the Host Community Development Trust (HCDT).

“But strangely, the settlor only made a paltry remittance to the HCDT of OML 26 contrary to the PIA.

“This was in October 2025 nearly two years after the inauguration of the HCDT.
“Curiously, the remittance was short paid by about #2.4billion.

“The Board of Trustees (BOT) raised an alarm of the short payments by drawing the settlor’s attention to the shortfall in November 2025 but the company didn’t respond until December 22, 2025 when a virtual meeting held without any resolution despite the assurance of the company that it would respond within two weeks.

“A petition to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) followed in January 2026 which now hosted a tripartite meeting of NEPL, the HCDT BOT at the NUPRC Abuja office on April 15, 2026 where the operator categorically said the shortfall was allegedly spent on Special Intervention Projects contrary to the PIA 2021 and the Global Memorandum of Understanding (GMoU) before the advent of the PIA.

“Although, the PIA allows for a one year transition, that one year post PIA elapsed in August 2022.
But we the stakeholders under the Isoko Grassroots Mobilizers are worried that the company Asset Management Team (AMT) led by Sterling Global Oil Exploration and Energy Company is playing games and we can no longer accept this.

“We are aware of the efforts of the BOT to ensure development of the communities but paucity of funds has been a clog in this direction.

“Before the Abuja meeting, we were aware of the Security Meeting the Isoko North Council Chairman, Hon.Godwin Ogorugba held with the security representatives in the Local Government Council area with NEPL and the BoT to nip in the bud any attempt to block the roads to the oil installations but that too yielded no results. This was on April 9,2026.

“We are not unmindful of the implications of a blockade but we can no longer wait endlessly for developments that are not forthcoming.

“These communities have lived without electricity and other amenities for ages,whereas the funds were meant for projects development in OML 26 as stipulated by the Petroleum Industry Act(PIA).

“The Isoko Grassroots Mobilizers have been monitoring the activities of the Asset Management Team and Sterling Global Oil Exploration and Energy in OML 26 and note with sadness the lukewarm response to the underdevelopment of the communities.

“A strange development not known to the PIA was introduced by the company where it said the funds deducted from 2023 to 2025 were adjusted OPEX but this is strange to the law thus creating the impression that the company was playing games with the 3 percent OPEX as stipulated in PIA thus starving the communities the necessary funds for development.

“The HCDT is handicapped in every material particular in the absence of the funds
for projects development.

” It is expected that the tripartite meeting held on the April, 15, 2026 hosted by NUPRC with Nigeria Exploration and Production Limited(NEPL), the Asset Management Team, Sterling Global Oil Exploration and Energy Company and representatives of the board of OML 26 Host Communities Development Trust(HCDT) in attendance may resolve the dispute but that meeting ended without any concrete resolution.

“NUPRC only directed NEPL to revert to them in two week’s time with detailed documented evidence of special intervention projects executed with that shortfall.

“We of the Isoko Grassroot Mobilizers are not happy with this recent claim of the Assets Management team and y Sterling Global Oil Exploration and Energy Company of the alleged Special Intervention Projects.

“By this statement we call on NUPRC to prevail on Asset management Team and Sterling Global oil to do the right thing by remitting the shortfall payment to the HCDT without fail.

“It is on record that OML 26 is lagging behind in terms of infrastructural development in the Niger Delta.

“Our findings have confirmed that no single project has been executed since the PIA took off in OML 26, since February 13, 2024 when the BOT was inaugurated.

“We therefore call on relevant government agencies to prevail on the Asset management Team and Sterling Global Oil to resolve the issue and pay all the outstanding monies to avert shutdown of their operations in OML 26.

“Oil exploration should ordinarily bring development to host communities but from the antics of Sterling Global, the Assets Management team and NEPL, oil exploration is almost turning to a curse to the host communities. But as critical stakeholders, we are ready to mobilise all our people to end this injustice once and fall all.

” We say no to economic oppression and sabotage. ENOUGH IS ENOUGH.

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David Ibiyeomie, the presiding pastor of Salvation Ministries in Rivers State, has stirred fresh conversation around tithing and church giving after declaring in a viral sermon that he gives a minimum of $12,000 every Sunday — and that his personal wealth is entirely independent of his congregation’s offerings.

Ibiyeomie, one of Nigeria’s most prominent Pentecostal clergy, made the remarks while preaching on what he described as the foundational role of tithing in Christian covenant living, insisting that any believer who neglects the practice will face financial stagnation.

“You cannot say that you are walking in a covenant if your foundation is not in place. Your foundation covenant is your tithe,” he told his congregation.

“Trying to walk in covenant wealth without tithing is like trying to build a house without a foundation.”

To underscore his commitment to the principle he was preaching, the pastor disclosed the scale of his own giving.

“The minimum I give on a Sunday is $12,000. That is the minimum. Every Sunday. And the minimum I give on weekdays is $2,000.

“Even when I am not in church, even when I travel, my offering will be there,” he said.

Perhaps more striking was his assertion that his prosperity bears no relationship to what his members contribute to the church.

Addressing his congregation directly, he said their offerings — or the withholding of them — had no bearing on his financial standing.

“If you don’t give your offering, I will be rich, stinkingly rich. I am not depending on your money. If my birthday is coming, get angry and don’t give me any money.

“This guy will be rich because it is not coming from you. It is coming from my covenant work with God,” he declared.

The sermon has since circulated widely on social media, reigniting debate around the theology of tithing, pastoral wealth, and the financial expectations placed on church members in Nigeria’s booming Pentecostal landscape.