Business
Account Holders In Suspense As NCC Moves To Stop 9 Banks From USSD Codes
By Gideon Ayeni
The Nigerian Communications Commission (NCC), has directed telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine commercial banks due to outstanding debts exceeding ₦200 billion.
Reuben Muoka, NCC’s Director of Public Affairs, issued the directive in a public notice on Tuesday, giving the affected banks until January 27, 2025, to settle their debts or risk permanent disconnection.
USSD codes are crucial for mobile banking, enabling services like money transfers and airtime purchases without internet access. Failure to resolve the debt could result in these codes being reassigned to other applicants, significantly disrupting banking operations for millions of consumers.
The financial institutions facing USSD code 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. Popular codes such as 770, 919, and 822 are among those at risk.
According to the NCC, invoices for these debts have remained unsettled since as far back as 2020. The current move follows a December 2024 directive jointly issued by the Central Bank of Nigeria (CBN) and the NCC, which the banks have allegedly ignored.
The CBN reported that over 252 million transactions valued at ₦2.19 trillion were conducted via USSD between January and June 2024 alone, highlighting the critical importance of the service.
The NCC reaffirmed its commitment to consumer protection and warned of imminent disruptions if the banks fail to comply. It also noted that the affected institutions may lose eligibility for future USSD code renewals unless immediate action is taken.
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