As permitted by the Nigerian Communications Commission (NCC), telecommunications companies in Nigeria may cut off the USSD access of nine banks over an ₦160 billion debt since 2019.
On Wednesday, the NCC listed the banks and their USSD codes:
- 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)
- Zenith Bank Plc (966)
The NCC said, “Telcos will disconnect the USSD access of these banks by Monday, January 27, 2025, if they do not pay their debt.” They added, “Consumers may be unable to access the USSD platform of the affected financial institutions from January 27, 2025.“
Previously, telcos announced plans to cut off USSD access for 18 banks over a ₦200 billion debt. However, nine banks paid their dues, reducing the total debt to ₦160 billion.
USSD services allow customers to perform banking transactions without Internet access. Cutting off these services will severely impact millions of customers, especially those in rural areas without internet connectivity. The move also highlights ongoing disputes between banks and telcos over USSD service fees.
Consumer groups have urged both parties to resolve the issue amicably to prevent disruption to banking services.
The NCC assures that its overall concern is protecting consumer interests by ensuring that services remain accessible and affordable.
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