Abuja, Nigeria — The Nigerian Communications Commission (NCC) has issued a directive to telecommunications operators to deactivate the USSD codes of nine financial institutions over unpaid debts.
The commission, in a statement released Tuesday by its Director of Public Affairs, Reuben Muoka, instructed that the disconnection must take effect by January 27, 2025, if the banks fail to clear outstanding payments.
The affected banks 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.
According to the NCC, these institutions have accumulated substantial debts to mobile network operators (MNOs), some dating back to 2020.
The statement disclosed that the banks’ non-compliance with a joint directive issued by the Central Bank of Nigeria (CBN) and NCC on December 20, 2024, triggered the ultimatum.
The commission warned that the disconnection could disrupt mobile banking services, affecting millions of customers relying on USSD platforms for transactions. Codes like 770, 919, and 822, critical for non-internet banking services, may be reassigned if the debts remain unresolved.
Part of the notice read: “As of January 14, 2025, nine out of the 18 financial institutions had significantly failed to comply with the directives outlined in the Second Joint Circular of the CBN and NCC for the settlement of outstanding invoices due to MNOs.”
The NCC also noted that the banks’ inability to meet good-standing requirements affects the renewal of their assigned USSD codes.
“In fulfillment of its consumer protection mandate, the commission informs customers that access to the USSD platforms of the affected financial institutions may be unavailable from January 27, 2025,” the statement added.
This directive highlights ongoing disputes between telecom operators and financial institutions over unresolved USSD-related debts, a challenge that has persisted for years.
By Enoch Odesola| January 15, 2025
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