Business
FG gives banks, telcos six-month ultimatum on N250bn USSD debt
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have issued a final directive to Deposit Money Banks (DMBs) and Mobile Network Operators (MNOs) to resolve the protracted N250bn Unstructured Supplementary Service Data (USSD) debt dispute.
The directive, contained in a joint circular dated December 20, 2024, was signed by the acting Director of Payments System Management at the CBN, Oladimeji Taiwo, and the Head of Legal and Regulatory Services at the NCC, Chizua Whyte. The document outlines a structured payment plan for clearing the debt and introduces new operational guidelines for USSD services.
Under the terms of the directive:
60% of all debts incurred before the implementation of Application Programming Interfaces in February 2022 must be paid as full and final settlement, with payment agreements to be finalized by January 2, 2025, and full settlement due by July 2, 2025.
For debts arising after February 2022, the CBN and NCC mandated that banks pay 85% of all outstanding invoices by December 31, 2024, and ensure that 85% of future invoices are settled within one month of issuance.
Ongoing litigation related to the USSD debt issue must be discontinued.
The regulators also emphasized the transition to end-user billing for USSD services, applicable only to banks and telcos that meet the outlined payment obligations. Pending this transition, operators are required to implement a “10-seconds rule,” ensuring sessions shorter than 10 seconds are not billed.
-
FCT Minister Orders Crackdown on Unregistered Hospitals and Quack Medical Personnel in Abuja
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has instructed authorities to initiate a comprehensive crackdown on unregistered hospitals and unqualified medical personnel operating within Abuja. The directive follows the tragic death of a pregnant woman at a private health facility in Durumi after undergoing a caesarean section. Lere Olayinka, the Senior Special…
-
JAMB Removes Five CBT Centres, Arrests 27 Impersonators, Addresses Hijab Restrictions
The Joint Admissions and Matriculation Board (JAMB) has officially removed five computer-based test (CBT) centres from the list of approved venues for the 2025 Unified Tertiary Matriculation Examination (UTME) due to failure to meet technical requirements. These centres, which were delisted on April 24, include Adventure Associate in Kano, Saadatu Rimi College of Education in…
-
NiMet Workers’ Strike Grounds Flights, FG Intervenes
Air travel was disrupted on Wednesday at key airports in Lagos, Abuja, and Kano following a protest by workers of the Nigerian Meteorological Agency (NiMet). At the Lagos airport, while some airlines like XEJET, Aero Contractors, and Ibom Air operated, others, including Air Peace, suspended operations due to the unavailability of essential weather reports. Air…
The CBN and NCC reiterated their commitment to resolving the debt impasse, stating that the measures are aimed at fostering stability in both the financial and telecommunications sectors while ensuring the continued availability of USSD services for Nigerians.