NCC, CBN to Resolve Banks, Telcos USSD Debt Dispute
The Nigerian Communications Commission (NCC) is working with the Central Bank of Nigeria (CBN) to resolve the ongoing dispute between telecommunications operators and commercial banks over unpaid Unstructured Supplementary Service Data (USSD) fees. USSD, also known as quick or feature codes, enables users to send text messages and perform financial transactions, such as cash transfers and balance inquiries.
The debt, which has risen to N250 billion, according to the Association of Licensed Telecommunication Operators of Nigeria (ALTON), has been a point of contention between telcos and banks. In 2019, telcos proposed charging customers N4.50k per 20 seconds for USSD services, but banks rejected this proposal, citing a potential 450% increase in costs.
The NCC has expressed optimism that the issue will be resolved soon, with Director of Consumer Affairs Bureau, Dr. Ikechukwu Adinde, stating that the commission is engaging with the CBN to find an amicable solution. #NCC, CBN to Resolve Banks, Telcos USSD Debt Dispute#
