NCC, CBN Give Banks, MNOs July 5 To Pay ₦250Bn USSD Debt

By Damilola Adeleke

The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have set July 5, 2025, as the deadline for Deposit Money Banks (DMBs) and Mobile Network Operators (MNOs) to settle a ₦250 billion Unstructured Supplementary Service Data (USSD) debt.

In a joint circular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators,” the two regulatory bodies urged both parties to resolve their prolonged dispute through Alternative Dispute Resolution (ADR) within six months.

The circular, signed by Oladimeji Taiwo, CBN Acting Director of the Payments System Management Department, and Chizua Whyte, Head of Legal and Regulatory Services at NCC, outlined directives for settling the outstanding debts.

The NCC and CBN mandated commercial banks to pay 60% of all pre-API invoices as a full and final settlement. Payment plans, either as a lump sum or in installments, must be agreed upon by January 2, 2025, with all installment payments completed by July 2, 2025. Additionally, 85% of post-API invoices must be paid by December 31, 2024, while all future post-API invoices must be settled within a month of issuance.

Both regulatory agencies instructed DMBs and MNOs to immediately halt any legal actions related to the USSD debt issue. Non-compliance with these directives would attract undisclosed sanctions. The transition to Enhanced Unstructured Billing (EUB) will only be activated for compliant DMBs and MNOs.

To address concerns about USSD billing, MNOs have been directed to adopt a “10-second rule,” which exempts sessions lasting less than 10 seconds from charges. DMBs using prepaid billing systems may migrate to EUB after completing necessary regulatory processes.

The NCC and CBN also announced plans to launch public enlightenment initiatives to educate telecom subscribers about the EUB transition. Stakeholders have described the directive as a step forward but emphasized the need for stricter enforcement and sanctions to deter non-compliance.

https://newscoven.com/ncc-cbn-give-banks-mnos-july-5-to-pay-%e2%82%a6250bn-ussd-debt/

This directive is expected to enhance transparency, improve customer experience, and foster collaboration between the financial and telecom sectors. Both regulators have reiterated their commitment to ensuring that DMBs and MNOs fulfill their obligations.

Damilola Adeleke

Adeleke Damilola (ACTION) is a versatile content writer with expertise in news writing and a seasoned media professional and broadcast specialist. Currently serving as News Editor for DNews Info, Damilola is also the CEO of the ACTION brand, committed to shaping lives and establishing a legacy of excellence for present and future generations.