Bank customers using the unstructured supplementary service
data (USSD) payment channels will now pay a flat fee of N6.98 per transaction —
replacing the current N4.89 session billing structure.
Deposit Money Banks (DMBs) on Friday commenced the
implementation of the new charges.
The implementation of the new billing structure comes more
than two months after mobile network operators (MNOs) announced plan to suspend
USSD services over N42 billion debt owed by financial service providers.
However, the suspension of the service was halted following
intervention of Isa Pantami, minister of communications and digital economy.
Following the minister’s intervention, the MNOs and DMBs
agreed to reduce the charge on customers.
In March, a joint statement released by the Central Bank of
Nigeria (CBN) and the Nigerian Communications Commission (NCC) noted that the
new N6.98 per transaction provides a cheaper average cost for customers and
enhance financial inclusion.
“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,” the statement
read.
“To promote transparency in its administration, the new USSD
charges will be collected on behalf of MNOs directly from customers bank
accounts. Banks shall not impose additional charges on customers for use of the
USSD channel.
“A settlement plan for outstanding payments incurred for
USSD services, previously rendered by the MNOs, is being worked out by all
parties in a bid to ensure that the matter is fully resolved.”
On Friday, MTN Nigeria also confirmed the implementation of
the plan, saying the deductions will commence on June 3.
“Effective 3rd June, 2021, each USSD Banking transaction
will attract a charge of N6.98 exclusive of VAT for use of the USSD Banking
channel. The money will be deducted from your bank, by your bank,” the teleco
tweeted in response to an inquiry.
Ikechukwu Adinde, director of public affairs at Nigeria
Communications Commission (NCC),said the policy is not
new, and it ought to have been implemented in March 2021.
“If banks delayed it and they are just implementation the
policy, fine,” Adinde said.
“The March joint statement between the CBN and NCC clearly
state positions on the matter.”
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