The Nigerian Communications Commission (NCC) has authorized Mobile Network Operators (MNOs) – MTN, Airtel, Globacom, and 9mobile – to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine commercial banks over unpaid debts.

The affected banks include First City Monument Bank (FCMB), Zenith Bank, Sterling Bank, Jaiz Bank, UBA, Polaris Bank, Unity Bank, Fidelity Bank, and Wema Bank. This decision stems from years of complaints by telecom operators regarding the banks’ failure to pay for USSD services, despite charging their customers for the platform.

If the disconnection goes into effect, millions of customers of these banks will lose access to USSD services, making it impossible to perform transactions through the platform.

Two-Week Ultimatum

In a notice issued on Wednesday, the NCC gave the banks a two-week grace period to settle their debts. If they fail to comply by January 27, 2025, their USSD codes will be withdrawn and could be reassigned to other entities.

The notice, signed by Reuben Muoka, the NCC’s Director of Public Affairs, stated:

“The Commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025. This action is in line with the Commission’s Guidelines on Short Code Operation in Nigeria, 2023.”

Non-Compliance and Debt Accumulation

The NCC revealed that out of 18 financial institutions, only the nine listed banks have failed to comply significantly with the directives of the Second Joint Circular issued by the Central Bank of Nigeria (CBN) and the NCC on December 20, 2024. Some of these debts have been outstanding since 2020.

The circular outlined the settlement of outstanding invoices owed to the telecom operators. Failure to meet these obligations disqualifies the banks from fulfilling the Good Standing requirements necessary for the renewal of their USSD codes.

The NCC emphasized the urgency of immediate compliance to avoid service disruption, urging the banks to resolve their outstanding debts promptly.