… as telcos sheath sword on suspension of banks
Bank customers will now pay N6.98 as for each USSD transactions.
The new price takes effect from today March 16, 2021.
This is one of the major resolutions of the joint meeting of key stakeholders in the telecommunications and banking sectors.
The meeting was chaired by the Minister of Communications and Digital Economy, Dr Isa Ali Pantami, to resolve the lingering dispute and ensure uninterrupted service to customers using the two channels.
The Joint Statement by CBN and NCC on pricing of Unstructured Supplementary Service Data (USSD) service reads in part:
“Effective March 16, 2021, USSD service for financial transactions conducted by DMBs and all CBN – licensed will be charged at a flat fee of N6.98 per transaction. This replace the current per session billing structure, ensuring a much cheaper average cost for customers to enhance financial inclusion.”
