The Nigerian Communications Commission has authorised telecommunications companies to disconnect the Unstructured Supplementary Service Data codes assigned to nine financial institutions due to unpaid debts.
This directive was made in a Tuesday public notice signed by NCC’s Director of Public Affairs, Reuben Muoka.
The telecom regulator said affected banks must settle their outstanding obligations by January 27, 2025, or risk losing access to their USSD codes.
These codes, essential for enabling mobile banking services, could be reassigned to other applicants if the debts remain unresolved.
The commission revealed that, as of Tuesday’s close of business, nine out of 18 financial institutions had not complied with regulatory directives.
While other banks have cleared their debts, the total amount initially owed by the financial institutions was reported to exceed N200 billion.
However, the regulator did not disclose the precise debt currently owed by the affected banks.
According to the NCC, some of the unpaid invoices have remained unpaid since 2020, indicating a prolonged financial dispute between the banks and telecom operators.
Part of the notice read, “By the information made available to the commission as at close of business on Tuesday, 14th January 2025, of a total of 18 financial institutions, the ni
