Abuja — The Nigerian Communications Commission (NCC) has introduced a new regulation 'Telecommunications Identity Risk Management System (TIRMS) to curb fraudulent transactions in the nation's digital ecosystem.

The Executive Vice Chairman (EVC), of the NCC, Dr. Aminu Maida made the disclosure in his address at a one-day Stakeholders Forum on Telecommunications Risk Management System (TIRMS), in Abuja.

Maida who was represented by the Executive Commissioner Stakeholders Management at NCC, Rimini Makama, said: "The Mobile Station International Subscriber Directory Number (MSISDN) commonly known as the SIM or mobile phone number has evolved into a critical identifier underpinning financial transactions, digital authentication, and access to essential services across all sectors of our economy.

"This evolution, however, has created new and challenging vulnerabilities. The fraudulent use of churned, recycled, swapped, and barred MISISDN's has become a significant vector for financial fraud and identity theft, eroding public trust in our digital platforms and undermining the identity of systems we have worked hard to build.

Keep up with the latest headlines on WhatsApp | LinkedIn

"It is in direct response to these challenges that the Commission has initiated the TIRMS Platform. The TIRMS Platform is a secure, regulatory backed, cross-sectoral platform designed to provide a uniform approach for managing all risks relating to the integrity and utilisation of registered MSISDN's on the Nigerian communications network."

The Director Cybersecurity and Internet Governance, Olatokunbo oyeleye, in her remarks said, "As rightly noted, digital trust is the operating licence of modern economy. Without it, nothing scales and with it everything accelerates. For our sector, this trust must be embedded across the entire value chain."