The Nigerian Communications Commission (NCC) has directed telecommunications companies (telcos) to disconnect the unstructured supplementary service data (USSD) codes assigned to nine banks due to unpaid debts.
The banks are Fidelity Bank (770), First City Monument Bank (329), Jaiz Bank (773), Polaris Bank Limited (833), Sterling Bank Limited (832), United Bank for Africa (919), Unity Bank (7799), Wema Bank (945), and Zenith Bank (966).
NCC’s director of public affairs, Reuben Muoka, said in a statement that the disconnection will take effect on January 27 if the banks do not pay the outstanding USSD debts.
“Nigerian Communications Commission hereby notifies members of the public that it is grunting approval to Mobile Network Operators (MNOs) to disconnect Unstructured Supplementary Service Data (USSD) Codes assigned by the Commission to financial institutions which are indebted to the MNOs if such institutions do not settle the outstanding invoices by Monday, January 27, 2025.
“The Commission will thereafter recover such Codes and may reassign them to other applicants in accordance with the applicable instruments. 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,” the statement reads.
The commission explained that information available to it as at close of business on Tuesday, 14th January 2025, showed that a total of 18 financial institutions, including the nine listed institutions, had failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria (CBN) and the Commission dated December 20, 2024 for the settlement of outstanding invoices due to MNOS, some since 2020.
“The financial institutions’ failure to comply with the CBN-NCC Joint Circular also means that they are unable to meet the Good Standing requirements for the renewal of the USSD Codes assigned to them by the Commission.
“The financial institutions have been duly notified of the need for immediate compliance in accordance with the Commission’s Guidelines on Short Code Operation in Nigeria, 2023,” it added.
