Shun Telcos That Increase USSD Charge – CBN Directs Banks

The CBN has intervened, following a new notice to subscribers by telco companies concerning new charges.

Shun Telcos That Increase USSD Charge - CBN Directs Banks
Godwin Emefiele

The Central Bank of Nigeria (CBN) has directed banks to shun telecommunication providers that increase USSD charge.

Godwin Emefiele, the CBN governor, said since the Telcos are adamant about increasing the charge, banks should move their business to any Telco that is ready to offer the service at a lower cost.

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It was earlier reported that customers who use unstructured supplementary service data (USSD) channels to access banking services would have to pay new charges from October 21.

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Some telecommunications network service providers have sent notices to their customers of the new charge

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