Customers in Nigeria using the Unstructured Supplementary Service Data (USSD) services have started paying N6.98 for each transaction done.
USSD is used by subscribers without having to access the internet system or the physical banking infrastructure.
Recently, a notice saying “Welcome to USSD Banking. Please note that an N6.98 network fee will be applied to your account for banking services on this channel,” displays whenever a customer uses the platform for any transaction.
Recall that the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) in March this year, decided to bill users for any transaction performed.
The move was part of a deal reached following a disagreement between banks and carriers over USSD and other SMS transaction requests.
A joint statement signed by the CBN and the NCC stated that “USSD services for financial transactions carried out in DMBs (deposit banks) and all institutions approved by the CBN will be billed at a flat rate of N6.98 per transaction”.
The joint statement was signed by the CBN’s acting Director, Corporate Communications, Mr Osita Nwanisobi, and NCC Director, Public Affairs, Mr Ikechukwu Adinde.
The charges will be withdrawn from users’ bank accounts and handed over to mobile network operators.