Saturday , November 27 2021

Tag Archives: Banks

Telcos, Banks, NeFF in Disagreement Over SIM Swap List

Telcos, Banks, NeFF in Disagreement Over SIM Swap List

Telecommunication companies have rejected demand by the Nigerian Electronic Fraud Forum (NeFF) and banks to submit lists of SIM Swap customers to Nigeria Interbank Settlement System (NIBSS) for watchlist against e-fraud, it was learnt on Tuesday. The Chairman, Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), Yinka Tiamiyu, …

Read More »

CBN, NCC Peg USSD Charges at N6.98 Per Transaction, Agree on Settlement Plan for Debt

CBN, NCC Peg USSD Charges at N6.98 Per Transaction, Agree on Settlement Plan for Debt

The Central Bank of Nigeria, CBN, and Nigerian Communications Commission (NCC) today said that bank customers are to begin paying N6.98 kobo per Unstructured Supplementary Service Data (USSD) transaction commencing today. The price replaced the former per session billing structure for USSD transactions. They disclosed this in a joint statement …

Read More »

Banks Agree on Installmental Payment of N42bn USSD Debt

Nigerian banks (Financial Service Providers) have agreed to stagger the payment of N42 billion being accrued debt owed Nigerian mobile network operators for the use of Unstructured Supplementary Service Data (USSD) short code service. The banks together with the mobile operators had ended a marathon meeting last night with the …

Read More »

CBN Issues Framework for QR Code Payment, Sandbox Operations

CBN Issues Framework for QR Code Payment, Sandbox Operations

For the safety and stability of the financial system, the Central Bank of Nigeria (CBN) has issued two frameworks for Quick Response (QR) Code for payment services and sandbox operations in Nigeria. This follows the increasing consumer appetite for payment solutions and emerging disruptive technology in the financial services space. …

Read More »

NCC Suspends Bank’s USSD End-User Billing, Engages Stakeholders

The Nigerian Communications Commission, NCC in furtherance of its mandate to protect the interests of consumers and support a robust telecommunications sector, has revised its Determination on Unstructured Supplementary Service Data (USSD) pricing published on the 23rd of July, 2019. The amendment was necessitated following a protracted dispute between Mobile …

Read More »