VICTORIA ONU, ABUJA
THE Central Bank of Nigeria and the Nigeria Communications Commission, on Tuesday, said customers would pay a flat fee of N6.98 per transaction every time they use the Unstructured Supplementary Service Data services.
This was disclosed in a statement released 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.
Based on the resolution reached by the parties, the new charges will take effect on Tuesday.
Nigerian Telcos under the Association of Licensed Telecommunications Operators of Nigeria had threatened to suspend USSD service over N42bn debt owed by banks.
But the apex bank had earlier intervened with a promise to find lasting solutions to the debt settlement.
According to the CBN, the new charges were part of the agreement reached when banks and telecommunication operators met on Monday.
Based on the agreement, and to promote transparency in the administration of the new charges, customers will be charged directly from their bank accounts.
The statement said, “We are pleased to announce that after comprehensive deliberations on the key issues, a resolution framework acceptable to all parties was agreed thus:
“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. This approach is transparent and will ensure the amount remains the same, regardless of the number of sessions per transaction.
“To promote transparency in its administration, the new USSD charges will be collected on behalf of MNOs (Mobile Network Operators) directly from customers’ bank accounts. Banks shall not impose additional charges on customers for use of the USSD channel.”
The CBN and the NCC said a settlement plan for the N42bn outstanding payments by banks had been put in place to fully resolve the problem.
According to the statement, banks and telcos will decide on the operational modalities for the implementation of the new USSD pricing framework.
This includes the sharing of Application Programme Interface to enable seamless, direct and transparent customer billing.
They said, “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 general public is reminded that the USSD channel is optional, as several alternative channels, such as mobile apps, internet banking and ATMs may be used for financial transactions.”
