NCC Tells Telcos to Revoke Access to Nine Banks USSD for Failing to Pay Debt of Over N160bn

According to popular sources like Business day NCC tells telcos to revoke access to nine banks USSD for failing to pay dept of over N160bn.

As per the instructions issued by the Nigerian Communications Commission (NCC), the telecommunication companies have made it clear that due to unpaid debt of over N160 billion, nine major banks would have a total suspension of the Unstructured Supplementary Service Data (USSD) and this suspension was announced by the NCC on Wednesday. 

Read also: NCC plans to Simplify Telecom Tariff Plans imitating India (TRAI)

This suspension is set to come into effect on the 27th of January, 2025 however the date may change depending on when the dues are cleared.

These are the banks that have been affected along with their USSD code:

• 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)

Read Also: NCC Postpones Glo Disconnection Following Resolution of Interconnect Debt Dispute

The NCC published a statement explaining how the cut-off occurred because the banks failed to pay their long overdue debt from 2019. 

The Commission also stated that this decision was taken within the scope of its consumer protection policy and cautioned that starting January 27, 2025, users may not be able to use the USSD functions of the financial firms mentioned in the list.

Earlier, telecom firms had threatened to suspend USSD services for 18 banks because of an even higher debt of N200 billion. However, the NCC explained that nine banks have repaid their debts and therefore only owe N160 billion.

Read Also: Pre-registered SIM Cards: Subscribers Should be Watchful NCC Warns!

The other nine banks continue to be owing this amount and will be suspended from USSD services due to their ongoing non-payment of dues. The USSD operations are anticipated to be ended for these banks if they do not settle their dues. 

This event occurs simultaneously with the increasing surge in farm inputs fueled by the increasing food prices which shows how important USSD services have become in the Nigerian financial market especially in the rural parts of the Nigeria where many people use USSD services to carry out basic banking services.