NCC Approves USSD Suspension for Nine Banks Over Unpaid Debts

On Tuesday, the Nigerian Communications Commission (NCC) announced its approval for telecom operators to suspend Unstructured Supplementary Service Data (USSD) services for nine Nigerian banks due to unresolved debts.

In a statement signed by its spokesperson, Ruben Muoka, the NCC revealed that the affected banks would lose access to the USSD codes assigned to them starting January 27, 2025. The decision follows a directive from a joint circular issued by the Central Bank of Nigeria (CBN) and the NCC on December 20, 2024, regarding outstanding invoices owed to mobile network operators (MNOs).

The financial institutions affected include 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. Key USSD codes like 770, 919, and 822 are among those impacted.

The NCC stated, “As of the close of business on Tuesday, January 14, 2025, nine institutions failed to comply significantly with the directives to settle outstanding invoices due to MNOs, some dating back to 2020.”

The commission warned that consumers might experience disruptions in accessing USSD platforms for the listed banks beginning January 27, 2025. This development comes amid ongoing disputes over approximately N200 billion in unpaid USSD charges.

The move poses challenges to Nigeria’s efforts to advance financial inclusion. According to CBN data, USSD platforms facilitated 252.06 million transactions worth N2.19 trillion between January and June 2024, reflecting a significant increase compared to 2023, which recorded 630.6 million transactions valued at N4.84 trillion.

The NCC urged stakeholders to address the issues promptly to minimize disruptions for consumers and ensure continued progress in financial accessibility.