NCC Gives Telcos Green Light to Cut Off 9 Banks from USSD Services
Nine Nigerian banks have been directed by the Nigerian Communications Commission to be disconnected from Unstructured Supplementary Service Data services by telecommunications companies. The affected banks are Fidelity Bank Plc, First City Monument Bank, Jaiz Bank Plc, Polaris Bank Limited, Sterling Bank Limited, United Bank for Africa Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc.
The NCC stated that the disconnection is due to the banks’ failure to settle their outstanding invoices, which have been pending since 2020. The regulator noted that the nine banks have not made significant efforts to comply with the directives outlined in the Second Joint Circular issued by the Central Bank of Nigeria and the NCC on December 20, 2024. The affected USSD codes include 770, 919, 822, among others.
The disconnection is expected to take effect from January 27, 2025, and will affect consumers who rely on the USSD platforms of the affected banks. The NCC said that consumers may be unable to access the USSD platforms of the affected financial institutions from the effective date. The regulator added that it is fulfilling its consumer protection mandate by informing consumers of the potential disruption to USSD services.
The development is a result of the long-standing dispute between mobile network operators and financial institutions over unpaid USSD invoices, which amount to N200 billion. The NCC’s decision is seen as a significant step towards resolving the issue. According to data from the CBN, USSD services have played a crucial role in promoting financial inclusion in Nigeria, with 252.06 million transactions worth N2.19 trillion conducted via USSD between January and June 2024.
