BREAKING: NCC Orders Disconnection of USSD Codes for Nine Banks Over Unpaid Debts
The Nigerian Communications Commission (NCC) has instructed telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine banks due to outstanding debts. This move, set to disrupt mobile banking services, is scheduled to take effect by January 27, 2025, unless the banks settle their overdue payments.
The banks affected by the directive are Fidelity Bank Plc, First City Monument Bank, Jaiz Bank Plc, Polaris Bank Limited, Sterling Bank Limited, United Bank for Africa Plc (UBA), Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc. These institutions owe substantial sums to telecom operators, some of which have been unpaid since 2020.
The notice, issued by NCC’s Director of Public Affairs, Reuben Muoka, on Tuesday, explains that the banks’ failure to adhere to a joint directive from the Central Bank of Nigeria (CBN) and the NCC has led to the ultimatum. If the debts remain unresolved, consumers may experience disruptions in accessing mobile banking services via USSD codes.
USSD codes, such as 770, 919, and 822, are essential for mobile banking, especially for users without internet access. The NCC warned that if the banks do not clear their outstanding payments, their USSD codes could be reassigned to other applicants.
The notice stated, “As of close of business on Tuesday, January 14, 2025, of the 18 financial institutions under review, nine have significantly failed to comply with the Second Joint Circular issued by the Central Bank of Nigeria and the NCC on December 20, 2024, regarding the settlement of outstanding debts to Mobile Network Operators (MNOs), some of which date back to 2020.”
The NCC also highlighted that the banks’ non-compliance with the CBN-NCC joint directive meant they had not met the necessary criteria to renew the USSD codes assigned to them.
In line with its consumer protection mandate, the NCC advised that customers may be unable to access the USSD services of the affected banks if the debts remain unpaid by the January 27 deadline.
This latest development brings into sharp focus the ongoing dispute between telecom operators and financial institutions over unpaid USSD-related debts, a long-standing issue that has yet to be resolved.
