NCC and CBN to settle USSD debt case
The Nigerian Communications Commission (NCC) together with the Central Bank of Nigeria (CBN) is looking to resolve a case of Unstructured Supplementary Service Data (USSD) debt between telecom operators and commercial banks.
The ₦250 billion debt had accumulated over time with telcos bearing the brunt as users accessed the USSD service for free.
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Here’s the backstory: In 2019, telecom operators proposed a ₦4.50 per 20 seconds charge for the USSD service to cover its operational costs. However, banks rejected this proposal claiming that a 450% transaction hike would increase the debt and negatively impact the relationship between the two sectors.
The NCC and CBN are working to establish a smooth resolution to the issue while taking into account that most Nigerians are dependent on the transaction service.
Director of the Consumer Affairs Bureau at NCC, Ikechukeu Adinde, stated that in the coming months, telecom operators will provide detailed information concerning tariff plans, billing rates and the terms and conditions for their services.
