Important changes in USSD banking charges announced by UBA, Zenith, GTB, others

• Nigerian banks person started informing customers astir the caller instructions connected however USSD transactions volition beryllium charged
• The improvement follows an bid from the Nigerian Communications Commission for banks to complaint customers utilizing airtime
• Telcos and Nigerian banks person for years been astatine loggerheads implicit mounting USSD debt, enactment astatine N250 billion

Legit.ng writer Dave Ibemere has implicit a decennary of acquisition successful business journalism, with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Major Nigerian banks, including Access Bank, United Bank for Africa (UBA), Ecobank, and Guaranty Trust Bank (GTB), person begun notifying customers of a large alteration successful however Unstructured Supplementary Service Data (USSD) banking transactions volition beryllium billed.

In abstracted messages to customers, the banks confirmed that starting June 3, 2025, USSD league fees volition present beryllium charged straight from customers’ airtime arsenic opposed to their slope accounts.

Bank customers to wage via airtime for USSD transactions Photo credit: Nurphoto
Source: Getty Images

Important changes successful USSD banking charges

This development, according to the banks, follows a directive of the Nigerian Communications Commission (NCC) connected the implementation of end-user billing projected years ago.

UBA, successful a announcement sent to customers connected Tuesday, said:

“In enactment with the directive of the Nigerian Communications Commission (NCC), delight beryllium informed that effectual June 3, 2025, charges for USSD banking services volition nary longer beryllium deducted from your slope account.“Going forward, these charges volition beryllium deducted straight from your mobile airtime equilibrium successful accordance with the NCC’s End-User Billing (EUB) model."

UBA explained that, nether the caller billing system, each USSD league volition incur a complaint of N6.98 for each 120 seconds, billed straight by the customer’s mobile web operator.

The slope stated:

“You volition person a consent punctual astatine the commencement of each session, and airtime volition lone beryllium deducted upon your confirmation and availability of the slope to fulfil this service. “If you bash not privation to proceed utilizing USSD banking nether this caller model, you whitethorn take to discontinue usage of the USSD channel."

Banks to halt deduction of USSD work charges connected customers' accounts Photo credit: nurphoto
Source: UGC

Ecobank besides sent retired a akin message:

"We are penning to pass you astir an important alteration to the USSD banking charges."In enactment with the directive of the Nigerian Communications Commission (NCC), delight beryllium informed that effectual June 3, 2025, the N6.98 league complaint for USSD banking services will nary longer beryllium deducted from your slope account. "Instead, your mobile web supplier volition deduct it from your airtime equilibrium nether the End-User Billing model."

The slope besides provided a breakdown connected however it volition work, Vanguard reports.

It added:

"You volition person a consent punctual astatine the commencement of each session; airtime volition lone beryllium deducted upon your confirmation."Ensure you person capable airtime for transactions similar transfers and equilibrium checks. No league complaint applies for airtime and information purchases via USSD."

Also, First City Monument Bank (FCMB) announced this alteration successful an email connection to customers, BusinessDay reports.

The slope stated:

“Each USSD league volition outgo N6.98 per 120 seconds, charged by your mobile network. You volition beryllium asked to o.k. the complaint earlier it’s deducted from your airtime. "If you prefer, you tin usage different banking channels similar ATMs, mobile apps, oregon Internet banking."

Nigeria’s newest commercialized slope announces nett surge

Earlier, Legit.ng reported that NOVA Bank Group, Nigeria’s newest commercialized bank, has announced a surge successful its nett aft tax.

In 2024, the slope received a licence from the Central Bank of Nigeria to commence afloat nationalist commercialized operations.

The licence enabled NOVA Bank to participate the retail and SME markets, wherever it has recorded important success.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng