The Nigerian Communications Commission (NCC) and telecommunications companies have made it clear that no extension will be granted for banks to settle their Unstructured Supplementary Service Data (USSD) debts. The deadline for payment is set for the close of business on Monday, January 27, 2025.
As of Friday, seven banks remained in arrears, with only two having made payments. However, by Monday, one additional bank expressed intent to settle, leaving six banks still outstanding. These debts stem from a directive issued on January 15, 2025, warning banks to clear their arrears or risk losing access to USSD services, which are vital for mobile banking in Nigeria.
The NCC’s directive is part of a phased payment plan that includes three stages. The first phase, requiring 60% settlement of pre-API invoices by January 27, is crucial to avoid service disconnections. The second phase, due by July 2, 2025, mandates full settlement of pre-API invoices, while the third phase, with a deadline of December 31, 2025, demands the payment of 85% of post-API invoices.
The Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbenga Adebayo, confirmed that the enforcement of this payment plan is non-negotiable. He emphasized that any future extension would require joint approval from both the NCC and the Central Bank of Nigeria (CBN), but he expressed doubt that either regulator would approve an extension without consultation.
The NCC reiterated that disconnection will proceed as planned if banks fail to meet the deadline, and Adebayo urged compliance to prevent disruptions to mobile banking services.
