The Central Bank of Nigeria (CBN) has fixed new charges for customers using the Unstructured Supplementary Service Data services at N6.98.
The gesture was part of the outcome of the Monday interface between the bank and other stakeholders including telecommunication operators to resolve the discontent over USSD charges which indebtedness rose to 42 billion.
Association of Licensed Telecommunications Operators of Nigeria (ALTON) had threatened to withdraw the USSD services to financial service providers due to the refusal to meet the debt obligations.
The federal government through the National Communications Commission (NCC) prevailed on ALTON to stay action, while calling a meeting of stakeholders to resolve the crisis.
A statement on Tuesday and jointly signed by the apex bank’s Acting Director, Corporate Communications, Osita Nwanisobi; and Director, Public Affairs, Nigerian Communications Commission, Ikechukwu Adinde, noted on Tuesday the issue has been dully resolved.
“Effective March 16, 2021, USSD services for financial transactions conducted at DMBs (Deposit Money Banks) and all CBN-licensed institutions will be charged at a flat fee of N6.98 per transaction.
“This replaces the current per session billing structure, ensuring a much cheaper average cost for customers to enhance financial inclusion,” he explained.
