- The Nigerian Communications Commission (NCC) has authorized telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes.
- The affected banks, including Fidelity Bank Plc and United Bank for Africa Plc, have failed to comply with regulatory directives to settle outstanding invoices due to mobile network operators (MNOs).
- The NCC has given the banks until January 27, 2025, to pay their outstanding debts or risk losing access to their USSD codes.
The Nigerian Communications Commission (NCC) has authorized telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes assigned to nine financial institutions.
The affected banks have failed to comply with regulatory directives to settle outstanding invoices due to mobile network operators (MNOs).
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According to the NCC, the affected banks 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.
The regulator noted that the banks have until January 27, 2025, to pay their outstanding debts or risk losing access to their USSD codes.
“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,” the NCC stated.
NCC To Name, Shame Banks Over N200bn Ussd Debt
The Nigerian Communications Commission (NCC) has announced plans to publicly release the names of 18 banks that have failed to settle their outstanding debts for using Mobile Network Operators’ Unstructured Supplementary Service Data platforms.
The banks collectively owe N200bn.
