The Nigerian Communications Commission (NCC) has approved the disconnection of USSD codes for nine financial institutions that have failed to settle over N200 billion owed to telecom operators. Consumers may face disruptions in accessing USSD services from these banks if the debt remains unpaid by January 27, 2025.
The Nigeria n Communications Commission ( NCC ) has granted approval to Mobile Network Operators (MNOs) to disconnect Unstructured Supplementary Service Data ( USSD ) codes assigned to nine financial institutions that are indebted to telecom operators .
The NCC issued a public notice stating that the affected institutions and their impacted USSD codes 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). Consumers may be unable to access the USSD platform of these financial institutions from January 27, 2025, if the outstanding invoices are not settled by the deadline.The NCC stated that these financial institutions have failed to comply significantly with the directives issued in the joint circular dated December 20, 2024, by the Central Bank of Nigeria (CBN) and the NCC for the settlement of outstanding invoices due to MNOs. The accumulated USSD debt dates back to 2018, and despite the joint directive from the CBN and NCC, only four banks have adhered to the payment requirements. The directive stipulated that banks should settle 60% of outstanding pre-API (Application Programming Interfaces) invoices by January 2025, with payment plans to be negotiated between banks and MNOs. However, several banks have yet to meet their payment obligations.The NCC emphasized that the financial institutions' failure to comply with the CBN-NCC joint circular also prevents them from meeting the good standing requirements for the renewal of their USSD codes. The commission has notified the affected institutions accordingly and reminded them of the need for immediate compliance in accordance with the commission's guidelines on short code operation in Nigeria, 2023. The NCC further stated that it will recover the USSD codes and may reassign them to other applicants in accordance with applicable instruments
NCC USSD Debt Telecom Operators Financial Institutions Disconnection Nigeria
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria: NCC to Name 18 Banks Over N200 Billion USSD DebtThe Nigerian Communications Commission (NCC) is set to name 18 banks that have failed to settle a debt of over N200 billion owed to mobile network operators (MNOs) for the use of Unstructured Supplementary Service Data (USSD) technology. This revelation comes amidst a long-standing dispute between banks and telecom companies over unpaid USSD bills, which have been accumulating since 2018.
Read more »
NCC Orders Disconnection of USSD Codes for 9 Banks Over Unpaid DebtsThe Nigerian Communications Commission (NCC) has instructed telecommunications companies to disconnect USSD codes assigned to nine banks due to unpaid debts. The disconnection will take effect on January 27, 2025, if the banks fail to settle their outstanding USSD debts. The NCC said it will recover the codes and reassign them to other applicants if necessary.
Read more »
![N200bn debt: NCC permits telcos to disconnect nine Nigerian banks from USSD service [Full List]](https://i.headtopics.com/images/2025/1/15/dailypostngr/n200bn-debt-ncc-permits-telcos-to-disconnect-nine--n200bn-debt-ncc-permits-telcos-to-disconnect-nine--1258E32CD64150C9EAFA2AA26FA284C9.webp?w=640)
N200bn debt: NCC permits telcos to disconnect nine Nigerian banks from USSD service [Full List]The Nigerian Communications Commission on Tuesday permitted telecommunications companies to disconnect nine Nigerian banks from the assigned Unstructured Supplementary Service Data codes usage over unpaid invoices. The Commission disclosed this in a notice on Tuesday, signed by its spokesperson, Ruben Muoka.
Read more »
NCC Threatens USSD Suspension Over N42 Billion Bank DebtThe Nigerian Communications Commission (NCC) is planning to suspend the Unstructured Supplementary Service Data (USSD) service if banks fail to settle a mounting N42 billion debt owed to telecom operators. The NCC may also publish a list of defaulting banks before the week ends, giving customers two weeks to find alternative transaction methods and banks two weeks to pay their outstanding debts to avoid disconnection.
Read more »
NCC approves disconnection of Exchange Telecommunications from MTN network over debtThe Nigerian Communications Commission (NCC) has approved the disconnection of Exchange Telecommunications Limited from the network of MTN Nigeria due to the non-settlement of interconnect charges.
Read more »
NCC Approves Disconnection of Exchange from MTN Over Unsettled Interconnect ChargesThe Nigerian Communications Commission (NCC) has approved the disconnection of Exchange Telecommunications Limited (Exchange) from MTN Nigeria Communications Limited (MTN) due to non-payment of interconnect charges.
Read more »