News

See Names of Banks NCC Directs Telcos to Cut USSD Access fo, Over Unpaid Debts

Published by Tope Fakinlede on January 15th, 2025.

See Names of Banks NCC Directs Telcos to Cut USSD Access fo, Over Unpaid Debts

The Nigerian Communications Commission (NCC) has instructed telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine banks due to unpaid debts. The notice, issued on Tuesday and signed by NCC’s Director of Public Affairs, Reuben Muoka, indicates that these banks must settle their outstanding debts by January 27, 2025, or lose access to their USSD services.

The NCC did not disclose the exact amount owed by the affected banks. According to a public notice, out of 18 financial institutions, nine had not yet complied with regulatory guidelines, while others had cleared their debts. The total debt owed by these institutions initially exceeded N200 billion, with some invoices dating back to 2020.

The NCC’s notice reads, “As of January 14, 2025, of the 18 financial institutions, nine have not significantly complied with the directives outlined in the Second Joint Circular of the Central Bank of Nigeria (CBN) and the NCC, dated December 20, 2024, regarding outstanding invoices to Mobile Network Operators (MNOs), some of which have been pending since 2020.”

The banks facing disconnection 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.

If the debts are not cleared, the affected USSD codes—such as 770, 919, and 822—could be reassigned to other applicants.

The NCC further stated that the failure of these banks to settle the debts means they no longer meet the requirements for the renewal of their USSD access. Consumers may experience disruptions in services provided by these banks starting January 27, 2025.

In a bid to protect consumers, the NCC has emphasized that the financial institutions were adequately informed about the need to settle their debts and warned that service interruptions could occur if the situation is not resolved.

Meanwhile, data from the Central Bank of Nigeria (CBN) reveals that between January and June 2024, there were 252.06 million USSD transactions totaling

N2.19 trillion.