The contention on fees from USSD transactions is far from over as Nigerian banks have switched off the service for non-core banking services like the purchase of airtime, internet data, among others. The action affects mostly MTN customers. A source told BusinessDay that Nigerian banks cut off the largest telecom operator in Africa after the […] Read Full Story
Nigerians on social media have lamented the payment of multiple bank charges, especially with Tuesday’s announcement by the Central Bank of Nigeria that effective immediately, Nigerians using the Unstructured Supplementary Service Data services will now be charged N6.98 for every transaction. The announcement has attracted cries from Nigerians who are already burdened with several bank...
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By Okoh Aihe On this bright Monday morning, as I put my materials together for this Wednesday column, the Minister of Communications and Digital Economy, Dr Isa Pantami, is holding a crisis meeting with the various stakeholders of the telecommunications industry in trying to ward off a USSD misunderstanding that is threatening to obscure most
The Central Bank of Nigeria and the Nigerian Communications Commission has announced that Unstructured Supplementary Service Data services for financial transactions will be charged at a flat rate fee of N6.98 per transaction, starting Tuesday. This is according to a joint statement signed by the Head, Corporate Communications, CBN, Osita Nwanisobi and the Director, Public...
The Central Bank of Nigeria (CBN) has issued a new order that introduces a new flat fee of ₦6.98 for consumers who use the USSD transactions, effective Tuesday, March 16. On March 15, telecommunications operators were expected to begin removing the Unstructured USSD short code service that banks and other financial service providers rely on […]
The Central Bank of Nigeria (CBN) has introduced new charges for customers using the Unstructured Supplementary Service Data services. The apex bank said from Tuesday customers will pay a flat...
The Central Bank of Nigeria (CBN) has imposed ₦6.98 service charge on Nigerians for all USSD transactions. Customers will pay a flat fee of N6.98 per transaction every time they use USSD services from March 16, a statement jointly signed by the apex bank and the Nigerian Communications Commission (NCC) said. The deal was … Continue reading CBN Announces ₦6.98 Charge For USSD Transactions Read Full Story
The House of Representatives on Tuesday urged telecommunication operators in the country to halt the planned withdrawal and suspension of Unstructured Supplementary Service Data (USSD) services to banks and other financial institutions. The Association of Licensed Telecommunications Operators of Nigeria had threatened to disconnect financial service providers from USSD from Monday, March 15, 2021 until […] Read Full Story
By: Andy Jury, CEO of Mukuru (www.Mukuru.com) With the World Economic Forum (https://bit.ly/2NntZ7V) warning of a growing digital divide that will eventually worsen global inequalities, the role of intuitive digital financial services platforms in bridging this divide becomes more important than ever. This is because the next generation tools that provide essential financial services – savings accounts, global money transfers, loans, etc. – to customers in an accessible way, become a powerful force for change by promoting financial inclusion in developing economies. The global health crisis and national lockdowns illustrated this point – and revealed that when informal withdrawal services became less accessible to communities, for example, people were able to turn to intuitive digital financial services platforms, supported by physical distribution infrastructure, to send and receive money when they need it most. And after interacting with these digital channels for the first time, many users find that they can […]