Emmanuel Thomas l Tuesday, March 16, 2021
ABUJA, Nigeria – Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) including all financial institutions licensed by the Central Bank of Nigeria will now charge N6.98kobo for USSD services per transactions with effect from March 16, 2021.
This replaces the current per session billing structure, thus ensuring a much cheaper average cost for customers to enhance financial inclusion, the Central Bank of Nigeria, CBN and the Nigerian Communications Commission, NCC said in a joint statement signed by Dr. Ikechukwu Adinde, Director, Public Affairs,(NCC) and Osita Nwanisobi, Head Corporate Communications, {CBN).
“This approach is transparent and will ensure the amount remains the same, regardless of the number of sessions per transaction”, the statement added.
Parties came to this agreement at the end of a meeting presided over by Hon. Minister of Communications and Digital Economy, Dr. Isa Ali Pantami to resolve the protracted issue of USSD pricing between the MNOs and DMBs in the interest of the public.
Represented at the meeting were the various MNOs, Association of Licensed Telecommunications Operators of Nigeria (ALTON), Association of Telecommunications Companies of Nigeria (ATCON), DMBs (represented by the Chairman, Body of Bank CEOs) and the sector regulators – Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC).
The statement added that to promote transparency in its administration, the new USSD charges will be collected on behalf of MNOs directly from customers’ bank accounts and that banks shall not impose additional charges on customers for use of the USSD channel. Other resolutions arrived at during the meeting include the following:
“A settlement plan for outstanding payments incurred for USSD services, previously rendered by the MNOs, is being worked out by all parties in a bid to ensure that the matter is fully resolved.
“MNOs and DMBs shall discuss and agree on the operational modalities for the implementation of the new USSD pricing framework, including sharing of Application Programme Interface (APIs) to enable seamless, direct and transparent customer billing.
“DMBs and MNOs are committed to engaging further on strategies to lower cost and enhance access to financial services”, the statement noted, stressing that with the above resolutions, the impending suspension of DMBs from the USSD channel is hereby vacated.
“Therefore, DMBs shall no longer be disconnected from the USSD channel”, the statement assured, and reminded the general public that the USSD channel is optional, as several alternative channels may such as mobile apps, internet banking and ATMs may be used for financial transactions.
“The CBN and NCC shall continue to engage relevant operators and stakeholders to promote cheaper, seamless access to mobile and financial services for all Nigerians”, they said.
