The Nigerian Communications Commission (NCC) has granted an approval to Mobile Network Operators (MNOs) to disconnect the Unstructured Supplementary Service Data (USSD) assigned to nine banks in the country.
The Commission however gave the debtor banks a 13-day grace (from today) to pay up their indebtedness to the MNOs, warning that, failure to meet up with the deadline, the USSD will be recovered and may be reassigned to other applicants from Monday, 27 January, 2027.
This was contained in circular, “Notice Of Approval To Telecommunications Companies To Withdraw USSD Services To Debtor Financial Institutions”, dated 15 January, 2025 and signed by the NCC Directory of Public Affairs, Reuben Mouka.
The affected nine banks and their USSD codes included Fidelity Bank Plc (770); First City Monument Bank (329); Jaiz Bank Plc (773); Polaris Bank Limited (833); Sterling Bank Limited (822); United Bank for Africa Plc (919); Unity Bank Plc (7799); Wema Bank Plc (945) and Zenith Bank Plc (966).
NCC stated further that, in fulfilment of its consumer protection mandate, consumers may be not able to access the USSD platform of the affected banks from 27 January, 2025.
NCC stated that, as at 14 January, 2025, the affected nine banks, out of a total of 18 financial institutions, have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria (CBN) and the Commission dated December 20, 2024 for the settlement of outstanding USSD invoices due to MNOs, some since 2020.
The telecoms regulatory agency stated that the failure of the affected banks to comply with the CBN-NCC Joint Circular also means that they were unable to meet the ‘Good Standing’ requirements for the renewal of the USSD codes assigned to them by the Commission.
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It further stated that the banks were duly notified of the need for immediate compliance in accordance with the Commission’s Guidelines on Short Code Operation in Nigeria, 2023.
“The Nigerian Communications Commission (the Commission) hereby notifies members of the public that it is granting 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.
“By the information made available to the Commission as at close of business on Tuesday, 14 January 2025, of a total of 18 financial institutions, the nine institutions listed below have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria (CBN) and the Commission, dated December 20, 2024 for the settlement of outstanding invoices due to MNOS, some since 2020.
“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.
“The financial institutions have been duly notified of the need for immediate compliance in accordance with the Commission’s Guidelines on Short Code Operation in Nigeria, 2023.
“The financial institutions and the impacted USSD Codes are as follows: Fidelity Bank Plc (770); First City Monument Bank (329); Jaiz Bank Plc (773); Polaris Bank Limited (833); Sterling Bank Limited (822); United Bank for Africa Plc (919); Unity Bank Plc (7799); Wema Bank Plc (945); and Zenith Bank Plc (966),” it was stated in the notice.
