NCC Approves Telecom Operators to Disconnect USSD Codes of Nine Banks Over Unpaid Debts
The Nigerian Communications Commission (NCC) has approved telecommunications operators to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine financial institutions over unpaid debts.
The directive, signed by the NCC’s Director of Public Affairs, Reuben Muoka, and obtained on Tuesday, January 14, 2025, gave the affected banks until January 27, 2025, to settle their outstanding obligations or face the disconnection of their USSD platforms.
While the NCC did not reveal the exact amount owed, it disclosed that the total debt from 18 financial institutions initially exceeded N200 billion, with some invoices dating back to 2020. The commission noted that nine of these institutions had failed to comply significantly with regulatory directives, even though others had cleared their debts.
The NCC’s public notice read in part:
“By the information made available to the commission as at close of business on Tuesday, January 14, 2025, nine institutions listed below have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria and the Commission dated December 20, 2024, for the settlement of outstanding invoices due to Mobile Network Operators, some since 2020.”
The affected banks are:
- Fidelity Bank Plc
- First City Monument Bank
- Jaiz Bank Plc
- Polaris Bank Limited
- Sterling Bank Limited
- United Bank for Africa Plc
- Unity Bank Plc
- Wema Bank Plc
- Zenith Bank Plc
The USSD codes at risk of disconnection include popular options such as *770#, *919#, and *822#. The NCC also warned that these codes could be reassigned to new applicants if the debts are not cleared.
In addition, the commission stated that failure to comply with the joint directive from the Central Bank of Nigeria (CBN) and the NCC would disqualify the banks from meeting the good standing requirements for USSD code renewal.
The NCC also issued a consumer advisory, warning:
“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.”
Data from the CBN shows that USSD transactions accounted for 252.06 million transactions valued at N2.19 trillion between January and June 2024.
The NCC emphasized that the affected banks had been adequately notified and urged them to address the matter promptly to avoid service disruptions for millions of customers nationwide.