NCC Orders Telcos To Disconnect Nine Banks Over USSD Debt

Due to a backlog of unpaid debts, the Nigerian Communications Commission (NCC) has instructed telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine financial institutions.

Part of the notice read, “By the information made available to the commission as at close of business on Tuesday, 14th January 2025, of a total of 18 financial institutions, the nine institutions listed below have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria and the commission dated December 20, 2024, for the settlement of outstanding invoices due to MNOS, some since 2020.”

The financial institutions impacted 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.

USSD codes such as 770, 919, and 822, among others, may be reassigned to other applicants if the outstanding debts are not settled.

The regulator emphasized that the failure of these banks to adhere to the CBN-NCC joint circular means they do not meet the necessary requirements for maintaining the good standing needed to renew the USSD codes allocated to them.

It added, “In fulfilment of its consumer protection mandate, the commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025.”

The NCC stressed that financial institutions had been properly informed about the urgent need for compliance and cautioned that consumers could experience service disruptions if the issues are not addressed promptly.

In the meantime, data from the CBN showed that between January and June 2024, a total of 252.06 million transactions, amounting to N2.19 trillion, were processed through USSD.

For More Information And News Update, Join Informant Online WhatsApp Channel With Link Below:

https://whatsapp.com/channel/0029VaihFajBadmT29ufud2Z

Related articles

Why The North Will Celebrate Me If I Am President – Peter Obi

Peter Obi, a 2027 presidential aspirant and the Labour...

Peter Obi Speaks On ‘Working’ For Abacha

Peter Obi, the former Anambra State governor and Labour...

Senate Makes Announcement Concerning Judgment On Natasha

The Senate announced on Sunday that it will obtain...

Makinde’s Associate Resigns From PDP

Seun Adelore, the Peoples Democratic Party (PDP) Chairman for...

FG Puts Up Presidential Jet Bought Under Obasanjo For Sale In Switzerland [PHOTOS]

Nigeria's Federal Government has put its 20-year-old Boeing Business...

LEAVE A REPLY

Please enter your comment!
Please enter your name here