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NCC to Cut Off USSD Access for Zenith, Fidelity, Wema, 6 Other Banks Over Debts to Telcos

NCC to Cut Off USSD Access for Zenith, Fidelity, Wema, 6 Other Banks

The Nigerian Communications Commission (NCC) has announced its decision to disconnect Unstructured Supplementary Service Data (USSD) services from nine financial institutions due to outstanding debts owed to Mobile Network Operators (MNOs).

This action follows the failure of these institutions to settle their outstanding invoices by the deadline of Monday, January 27, 2025. The NCC’s decision is aimed at ensuring the settlement of long-standing debts and maintaining the integrity of the USSD platform.

The NCC’s action is in line with its mandate to protect consumers and ensure fair practices within the telecommunications industry. The Commission has been working with the Central Bank of Nigeria (CBN) to address the issue of indebtedness by financial institutions to MNOs. Despite joint circulars and directives issued by both regulatory bodies, these nine institutions have failed to comply, prompting the NCC to take decisive action.

The affected financial institutions 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. These institutions will have their assigned USSD codes disconnected, rendering their USSD services inaccessible to customers. The specific USSD codes affected are 770, 329, 773, 833, 822, 919, 7799, 945, and 966, respectively.

Also Read: N250bn Debt: Seamless Banking Services at Risk as MTN Threatens USSD Suspension

The NCC has stated that it will recover the disconnected USSD codes and may reassign them to other applicants in accordance with applicable regulations. This move is intended to ensure the efficient utilization of these resources and prevent further accumulation of debt. The Commission has also emphasized that it has duly notified the affected financial institutions of the impending disconnection and the need for immediate compliance with its guidelines on short code operations.

The disconnection of USSD services will have a significant impact on customers of the affected financial institutions, who will be unable to access banking services through these channels. USSD services are widely used for various transactions, including balance inquiries, fund transfers, and bill payments. The NCC has advised consumers to take note of this development and explore alternative banking channels.

The NCC’s decision underscores its commitment to ensuring financial responsibility and accountability within the financial sector. The Commission has made it clear that it will not tolerate non-compliance with its regulations and will take necessary action to protect the interests of consumers and MNOs. The disconnection of USSD services serves as a strong message to other financial institutions to prioritize the settlement of their financial obligations.

The NCC has been working diligently to improve the efficiency and reliability of telecommunications services in Nigeria. This action demonstrates its proactive approach to addressing challenges within the industry and ensuring a level playing field for all stakeholders. The Commission is committed to fostering a stable and sustainable telecommunications environment that benefits both service providers and consumers.

The NCC has urged the affected financial institutions to take immediate steps to settle their outstanding debts and avoid further disruption to their services. The Commission has also reiterated its commitment to working with the CBN and other stakeholders to promote financial stability and responsible lending practices within the Nigerian economy. The public will be kept informed of further developments regarding this matter.

About Bukola Olanrewaju

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