The Nigerian Communications Commission (NCC) has approved the disconnection of Unstructured Supplementary Service Data (USSD) services to financial institutions that have failed to settle outstanding debts.
In a statement signed by the Director, Public Affairs, NCC, Reuben Muoka on Wednesday, The Nigerian Communications Commission hereby notifies members of the pubic that it is granting approval to Mobile Network Operators (MNOs) to disconnect 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 27th, 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 27th, 2025,” the notice stated.
He added that by the information made available to the Commission as at close of business on Tuesday, 14th January, 2025; of a total of 18 financial institutions, nine 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 invoices due to MNOs, some since 2020.
Also, 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.
Furthermore, the affected financial institutions have been duly informed of the need for immediate compliance in accordance with the Commissions’ Guidelines on Short Code Operation in Nigeria, 2023.
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.
BV.