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The Nigerian Communications Commission (NCC) is collaborating with the Central Bank of Nigeria (CBN) to address the protracted dispute between telecommunications operators and commercial banks over unpaid Unstructured Supplementary Service Data (USSD) fees.
USSD services, commonly used for financial transactions such as balance inquiries and fund transfers, have been at the center of a financial standoff. The Association of Licensed Telecommunication Operators of Nigeria (ALTON) estimates the debt owed to telecom operators by banks has reached N250 billion.
Background of the Dispute
The conflict dates back to 2019, when telcos proposed charging customers N4.50 per 20 seconds for USSD services. However, banks rejected the proposal, citing concerns over a potential 450% cost increase for users. This disagreement has since resulted in the accumulation of unpaid fees, creating tension between the two sectors.
NCC’s Position
The NCC remains optimistic about resolving the issue. Speaking on the matter, Dr. Ikechukwu Adinde, Director of the Consumer Affairs Bureau at the NCC, emphasized the commission’s commitment to fostering an amicable solution.
“We are actively engaging with the CBN to ensure that all parties involved reach a resolution that balances the interests of consumers, telcos, and banks,” Dr. Adinde stated.
Moving Forward
The resolution of the USSD fee dispute is critical to maintaining seamless financial services for millions of Nigerians who rely on mobile platforms for transactions. Both the NCC and CBN have reiterated their commitment to safeguarding consumer interests while ensuring that telcos and banks operate within a sustainable framework.
Stakeholders are hopeful that a consensus will soon be reached to prevent further disruptions in USSD services and ensure the financial system’s stability.
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