The Nigerian Communications Fee has directed Deposit Cash Banks to begin deducting expenses for unstructured supplementary service knowledge transactions instantly from customers’ cellular airtime.
In accordance with an electronic mail from the United Financial institution for Africa to clients on Tuesday, the fees will now not be deducted from clients’ accounts. UBA mentioned the directive takes impact from Tuesday, June 3, 2025.
The assertion learn, “Consistent with the directive of the Nigerian Communications Fee, please be told that efficient June 3, 2025, expenses for USSD banking companies will now not be deducted out of your checking account.
“Going ahead, these expenses will probably be deducted instantly out of your cellular airtime steadiness in accordance with the NCC’s Finish-Consumer Billing mannequin. Beneath this new billing construction, every USSD session will appeal to a cost of n6.98 per 120 seconds, which will probably be billed by your cellular community operator.
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“You’ll obtain a consent immediate firstly of every session, and airtime will solely be deducted upon your affirmation and availability of the financial institution to fulfil this service. If you don’t want to proceed utilizing USSD banking below this new mannequin, it’s possible you’ll select to discontinue use of the USSD channel.”
UBA mentioned clients can proceed utilizing different digital banking choices and the web banking platform for comfort. The newest directive could also be one other transfer by the fee to handle the historic USSD fee battle between Cell Community Operators and business banks.
In December 2024, the Central Financial institution of Nigeria and the NCC directed cellular community operators and DMBs to resolve the long-standing N250bn USSD debt.
Following threats by telcos to withdraw companies over the debt amassed by banks, the NCC, in January, threatened to droop the USSD service and publish a listing of banks nonetheless owing telcos.
On January 15, the regulator directed telcos to disconnect the USSD codes assigned to 9 banks by January 27 because of unpaid money owed. On February 28, MTN Nigeria mentioned it acquired N32bn, out of N72bn, from banks as a part of fee for the USSD debt.
The telcos had repeatedly raised considerations concerning the USSD debt, a improvement as varied events within the sector had made concerted efforts to deal with the matter.
