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NCC to cut USSD access for nine banks over N160 billion debt

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The Nigerian Communications Commission (NCC) has announced that, starting January 27, 2025, telecommunication companies will suspend the Unstructured Supplementary Service Data (USSD) access for nine Nigerian banks.

This follows the banks’ failure to pay a combined debt of N160 billion that has been outstanding since 2019.

In an official notification issued by the NCC, the Commission explained that this action is being taken to ensure that the debts owed by the banks are settled and to maintain the integrity of both the telecommunications and banking sectors in Nigeria.

Diaspora digital media (DDM) gathered from the notification that the nine banks affected, along with their corresponding USSD codes, are Fidelity Bank Plc (770), First City Monument Bank (FCMB) (329), Jaiz Bank Plc (773), Polaris Bank Limited (833), Sterling Bank Limited (822), United Bank for Africa Plc (UBA) (919), Unity Bank Plc (7799), Wema Bank Plc (945), and Zenith Bank Plc (966).

The NCC warned that unless these banks settle their outstanding debts, their customers will lose access to USSD services, which are frequently used for mobile banking and financial transactions.

This move follows an earlier indication from telecom operators that they might suspend the USSD access for 18 banks due to a total debt of N200 billion. However, the NCC’s decision affects only the nine banks with the largest unpaid debts.

The NCC clarified that this decision was made as part of its efforts to address the long-standing debt issue and to promote responsible financial behavior within the banking sector.

The Commission emphasized that the USSD suspension will be fully enforced unless the banks clear their debts before the set deadline.

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This suspension could severely disrupt banking services for millions of customers, particularly those in rural areas who depend on USSD for financial transactions due to limited access to smartphones or internet banking.

As a result, the NCC’s decision is expected to cause significant concern among customers who may lose access to essential banking services unless the debt is resolved in time.

USSD codes have played an important role in financial inclusion, offering essential banking services to individuals without internet access or smartphones.

The NCC’s action could affect a large number of customers who rely on these services for tasks such as checking balances, transferring funds, or paying bills.

Telecom operators have stated that they are following the NCC’s directive and have no option but to implement the suspension.

The NCC has expressed its commitment to ensuring that the issue is resolved by encouraging the affected banks to clear their debts promptly.

As the deadline of January 27, 2025, draws closer, the affected banks will be under growing pressure to pay their debts and restore USSD access for their customers.

If the banks fail to settle the debts by the deadline, the suspension will proceed as planned, further complicating Nigeria’s banking landscape.

This development underscores the need for timely debt resolution and better coordination between financial institutions and telecommunications providers to ensure the smooth functioning of the country’s financial system.


For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook

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