{"id":9290,"date":"2021-03-16T16:25:47","date_gmt":"2021-03-16T15:25:47","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=9290"},"modified":"2021-03-16T16:25:47","modified_gmt":"2021-03-16T15:25:47","slug":"just-in-cbn-introduces-new-charges-for-ussd-services","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/03\/16\/just-in-cbn-introduces-new-charges-for-ussd-services\/","title":{"rendered":"JUST IN: CBN introduces new charges for USSD services"},"content":{"rendered":"<p>The Central Bank of Nigeria on Tuesday announced new charges for customers using the Unstructured Supplementary Service Data services.<\/p>\n<p>The apex bank said it will take effect from Tuesday, customers will pay a flat fee of N6.98 per transaction every time they use USSD services.<\/p>\n<p>According to the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/03\/16\/cbn-directs-banks-to-begin-scan-to-pay-system\/\" target=\"_blank\" rel=\"noopener\">apex bank<\/a>, the development was part of the agreement reached when banks and telecommunication operators met on Monday to discuss the N42 billion debt owed mobile operators by banks.<\/p>\n<p>This was contained in a statement jointly signed by the apex bank\u2019s Acting Director, Corporate Communications, Osita Nwanisobi; and Director, Public Affairs, Nigerian Communications Commission, Ikechukwu Adinde.<\/p>\n<p>The statement was titled \u2018Joint Statement by Central Bank Of Nigeria and Nigerian Communications Commission on Pricing of Unstructured Supplementary Service Data (USSD) Services\u2019.<\/p>\n<p>\u201cWe are pleased to announce that after comprehensive deliberations on the key issues, a resolution framework acceptable to all parties was agreed thus:<\/p>\n<p>\u201cEffective March 16, 2021, USSD services for financial transactions conducted at DMBs (Deposit Money Banks) and all CBN-licensed institutions will be charged at a flat fee of N6.98 per transaction. This replaces the current per session billing structure, ensuring a much cheaper average cost for customers to enhance financial inclusion. This approach is transparent and will ensure the amount remains the same, regardless of the number of sessions per transaction.<\/p>\n<p>\u201cTo promote transparency in its administration, the new USSD charges will be collected on behalf of MNOs (Mobile Network Operators) directly from customers\u2019 bank accounts. Banks shall not impose additional charges on customers for us of the USSD channel,\u201d the statement partly read.<\/p>\n<p>The Federal Government had last week asked telecommunication operators to put on hold, their impending suspension of USSD services over a N42bn debt owed by banks.<\/p>\n<p>Minister of Communications and Digital Economy, Isa Pantami, had convened a meeting with financial institutions and mobile network operators on Monday.<\/p>\n<p>The CBN said the new charges was part of the resolution reached at the meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria on Tuesday announced new charges for customers using the Unstructured Supplementary Service Data services. The apex bank said it will take effect from Tuesday, customers will pay a flat fee of N6.98 per transaction every time they use USSD services. According to the apex bank, the development was part of [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":9143,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[2602,658,2650,2649],"class_list":["post-9290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-banks","tag-cbn","tag-charges","tag-ussd"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JUST IN: CBN introduces new charges for USSD services<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria on Tuesday announced new charges for customers using the Unstructured Supplementary Service Data services\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/03\/16\/just-in-cbn-introduces-new-charges-for-ussd-services\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JUST IN: CBN introduces new charges for USSD services\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria on Tuesday announced new charges for customers using the Unstructured Supplementary Service Data services. 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