UBA, FCMB, Zenith, six others face disconnection from USSD platform over debts
Telecommunications companies in Nigeria have been ordered to restrict nine banks from accessing the Unstructured Supplementary Service Data (USSD) codes, assigned to them.
The Director of Public Affairs for the Nigerian Communications Commission, Reuben Muoka, in a statement on Friday, said the nine banks must pay their outstanding USSD debts before January 27, 2025, when the directive will take effect.
The affected banks include: Fidelity Bank (770), First City Monument Bank (329), Jaiz Bank (773), Polaris Bank Limited (833), Sterling Bank Limited (832), United Bank for Africa (919), Unity Bank (7799), Wema Bank (945), and Zenith Bank (966).
It read, “Nigerian Communications Commission hereby notifies members of the public that it is grunting approval to Mobile Network Operators (MNOs) to disconnect Unstructured Supplementary Service Data (USSD) Codes assigned by the Commission to financial institutions which are indebted to the MNOs if such institutions do not settle the outstanding invoices by Monday, January 27, 2025.”
“The commission will thereafter recover such codes and may reassign them to other applicants in accordance with the applicable instruments. 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 said, as of Tuesday, only nine out of 18 financial institutions failed to comply with the directives in the Second Joint Circular of the Central Bank of Nigeria (CBN) and the commission dated December 20, 2024, to settle outstanding invoices due to MNOS, some since 2020.
It stated, “The financial institutions’ failure to comply with the CBN-NCC joint circular also means that they are unable to meet the good standing requirements for the renewal of the USSD codes assigned to them by the commission.”
According to the statement, the affected financial institutions have been notified of their urgent need to immediately comply with the commission’s guidelines on Short Code Operation in Nigeria 2023.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
School Abduction: Oyo Assembly backs Gov Makinde’s call for international investigationÂ
The lawmaker cautioned the public and the Nigerian Senate against misinterpreting the purpose of the state governor’s call for an international investigation.
Politics
Tuggar group rejects Bauchi APC governorship candidate Mohammed Abubakar
He dismissed Mr Abubakar’s declaration as a governorship candidate, alleging that there were no governorship primaries in the state.
Hot news Home top
Oyarzabal, Porro score as Spain beat France to reach World Cup finalÂ
Spain will face the winner of the second semi-final match between England and Argentina on Sunday.Â
Economy
PenCom cuts pension approvals to 48 hours, recovers N36 billion arrears
She said the 48-hour approval timeline had become a mandatory service standard binding on all PFAs.
Heading 5
Freed Oyo pupils, teachers reunite with families
The pupils and teachers reunited with their families on Tuesday.
NationWide
DHQ engages military veterans on welfare, national service
He said the welfare of retired personnel remained one of the top priorities of the DHQ under the current leadership.
