Legal Challenges of Digital Financial Services and Mobile Money Regulation in Taraba State

The expansion of digital financial services and mobile money platforms into rural communities in Taraba State, North East Nigeria, raises important legal questions about consumer protection, service provider liability, and the adequacy of regulatory frameworks. This study examines the private law challenges associated with mobile money services and digital financial products in Taraba State, evaluating the Central Bank of Nigeria's Guidelines on Mobile Money Services, the Nigeria Data Protection Act 2023, and consumer contract principles. Using a mixed-methods research design, the research surveys 180 mobile money users and 20 financial service operators in Jalingo, Wukari, and Bali, supplemented by doctrinal analysis of relevant regulatory instruments and cases. Findings reveal that rural users frequently lack the digital literacy to understand the contract terms governing mobile money services, and that dispute resolution mechanisms provided by mobile money operators are inadequate, inaccessible, and weighted against users. The study further documents cases of unauthorised transactions, identity fraud, and failure to reverse erroneous transfers, which are not effectively addressed by current regulatory frameworks. Recommendations include mandatory plain-language digital contract terms in local languages, central registration of mobile money disputes, and enhanced supervisory oversight of digital financial service providers in underbanked rural regions. Keywords: mobile money, digital financial services, consumer protection, Taraba State, fintech regulation