Telecom operators in Nigeria are preparing to suspend Unstructured Supplementary Service Data (USSD) services in two weeks following the failure of deposit money banks (DMBs) to meet the payment deadline for the long-standing N250 billion debt. This move is in response to the non-compliance of the banks with the joint directive issued by the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) on December 23, 2024, which instructed the banks to make partial payments by December 31, 2024.
As of Monday, only four of the 22 banks involved in the debt have made substantial payments, while 18 have not met their obligations. The telecom sources revealed that the two-week window will serve as a grace period for telecom subscribers to prepare for the suspension. The Nigerian Communications Commission (NCC) has already approved the suspension, signaling that if the banks fail to meet their payment commitments, the USSD service will be completely revoked.
USSD services are critical for a range of financial and communication transactions, particularly for mobile banking services. The suspension, once implemented, will affect millions of users across the country who rely on the service for daily transactions. The telecom operators and the regulatory bodies are urging the banks to resolve the issue swiftly to avoid the disruption of this essential service. If the suspension proceeds, it could have significant implications for mobile banking, airtime top-ups, and other services reliant on USSD technology.
