“NCC Announces Ban on Nine Banks’ Access to USSD Codes Amid ₦200 Billion Debt Dispute”
The Nigerian Communications Commission (NCC) has authorized telecommunications companies to disconnect nine Nigerian banks from using Unstructured Supplementary Service Data (USSD) codes due to unpaid invoices. The directive, disclosed in a notice signed by NCC spokesperson Ruben Muoka on Tuesday, takes effect from January 27, 2025.
The affected banks include Fidelity Bank Plc, First City Monument Bank (FCMB), Jaiz Bank Plc, Polaris Bank Limited, Sterling Bank Limited, United Bank for Africa (UBA) Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc. Popular USSD codes such as 770, 919, and 822 are among those impacted.
The NCC revealed that these institutions failed to comply with a joint directive from the Central Bank of Nigeria (CBN) and the NCC, issued on December 20, 2024, to settle outstanding debts to mobile network operators (MNOs). The regulator emphasized that some of these invoices have been pending since 2020, totaling ₦200 billion.
“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.
The disconnection could significantly disrupt financial services and the nation’s financial inclusion efforts, as USSD platforms are vital for mobile banking, especially in underserved areas.
Between January and June 2024, the Central Bank of Nigeria reported 252.06 million USSD transactions worth ₦2.19 trillion, highlighting the growing reliance on the service. This marked a significant rise compared to 2023, when 630.6 million transactions valued at ₦4.84 trillion were conducted via USSD codes.
Negotiations between MNOs and financial institutions remain ongoing, but unless a resolution is reached, millions of Nigerians could face limited access to mobile banking services, potentially stalling progress in digital financial inclusion.
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