NCC Orders Telcos To Disconnect Nine Banks Over USSD Debt

NCC Orders Telcos To Disconnect Nine Banks Over USSD Debt

NCC Orders Telecom Operators to Disconnect USSD Codes of Nine Banks Over Unpaid Debts 

The Nigerian Communications Commission (NCC) has directed telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine financial institutions due to a backlog of unpaid debts.

The directive, signed by the NCC’s Director of Public Affairs, Reuben Muoka, and obtained by TV channel  on Tuesday, gave the affected banks until January 27, 2025, to settle their outstanding debts or risk losing access to their USSD codes.

While the commission did not disclose the exact amount owed by the banks, it noted that the total debt across 18 financial institutions initially exceeded N200 billion, with some invoices remaining unpaid since 2020.

The NCC’s public notice stated that nine out of the 18 banks had failed to comply significantly with regulatory directives, despite other financial institutions clearing their debts.

The notice partly read:

“By the information made available to the commission as at close of business on Tuesday, January 14, 2025, of a total of 18 financial institutions, the nine institutions listed below have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria and the commission dated December 20, 2024, for the settlement of outstanding invoices due to MNOS, some since 2020.”

The affected banks include:

1. Fidelity Bank Plc

2. First City Monument Bank

3. Jaiz Bank Plc

4. Polaris Bank Limited

5. Sterling Bank Limited

6. United Bank for Africa Plc

7. Unity Bank Plc

8. Wema Bank Plc

9. Zenith Bank Plc

USSD codes such as *770#, *919#, and *822# are among those at risk of reassignment to other applicants if the debts are not resolved.

The NCC further warned that the failure of the banks to comply with the joint directive from the Central Bank of Nigeria (CBN) and the NCC would disqualify them from meeting the good standing requirements necessary for USSD code renewal.

In its consumer advisory, the commission stated:

“In fulfilment of its consumer protection mandate, the commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025.”

Meanwhile, data from the CBN showed that USSD transactions accounted for 252.06 million transactions worth N2.19 trillion between January and June 2024.

The NCC emphasised that the banks had been adequately notified and urged them to address the issue promptly to avoid service disruptions for consumers.