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CBN Introduces N6.98 Charges For USSD Services - Business - Nairaland

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POS Operators Increase Charges For Withdrawal, Deposit / NCC Okays Disconnection Of USSD Services For Banks Over N120bn Debt – Telecom Op / Banks Now Charge N6.98 For USSD Transactions (Photo) (2) (3) (4)

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CBN Introduces N6.98 Charges For USSD Services by Islie: 3:56pm On Mar 16, 2021
The Central Bank of Nigeria (CBN) has introduced new charges for customers using the Unstructured Supplementary Service Data services.

The apex bank said from Tuesday customers will pay a flat fee of N6.98 per transaction every time they use USSD services.

The charges were part of the agreements after banks and telecommunication operators met on Monday to discuss the N42bn debt owed mobile operators by banks.


A statement on Tuesday and jointly signed by the apex bank’s Acting Director, Corporate Communications, Osita Nwanisobi; and Director, Public Affairs, Nigerian Communications Commission, Ikechukwu Adinde, explained: “We are pleased to announce that after comprehensive deliberations on the key issues, a resolution framework acceptable to all parties was agreed thus:

“Effective 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.

“To promote transparency in its administration, the new USSD charges will be collected on behalf of MNOs (Mobile Network Operators) directly from customers’ bank accounts. Banks shall not impose additional charges on customers for us of the USSD channel.”

The Federal Government last week asked telecommunication operators to put on hold, their impending suspension of USSD services over N42bn debt owed by banks.

https://thenationonlineng.net/breaking-cbn-introduces-new-charges-for-ussd-services/

3 Likes

Re: CBN Introduces N6.98 Charges For USSD Services by FalseProphet1(m): 4:18pm On Mar 16, 2021
I see Nigerians being debited just for passing through a bank, I see them being charged for crossing roads, visiting markets, and even churches, I see a revolution coming up very soon. This I have seen.

406 Likes 35 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by SouthSouth1914: 4:18pm On Mar 16, 2021
Emefiele is the dunce of the 21st century. He may be a PH.D holder, but he is a disgrace to 21st century banking system especially here in Nigeria. From an economist, this guy was changed to a full time blown messenger of doom!

Do you know once you combine all the charges for a bank account user/holder, it is almost half equivalent of the minimum wage in the land? His policies are anti people friendly!

198 Likes 16 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by chukiz(m): 4:18pm On Mar 16, 2021
Another one

8 Likes 3 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by Ejaisky: 4:18pm On Mar 16, 2021
Na wa o....

7 Likes 1 Share

Re: CBN Introduces N6.98 Charges For USSD Services by wallay77(m): 4:18pm On Mar 16, 2021
Hmm...hope this wicked people no go kill struggling people before them comot for power...this is wickedness

26 Likes 3 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by KUNZEH(m): 4:18pm On Mar 16, 2021
Nawa o, dey swear for una ni? Someone will pay transfer fee, Vat and Ussd. Always looking for a way to milk Nigerians. Oga o

57 Likes 3 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by iwaeda: 4:18pm On Mar 16, 2021

9 Likes 1 Share

Re: CBN Introduces N6.98 Charges For USSD Services by Happiboispot(m): 4:18pm On Mar 16, 2021
good riddance
Re: CBN Introduces N6.98 Charges For USSD Services by tutudesz: 4:18pm On Mar 16, 2021
undecided Na my money una wan use give Amnesty to bandits abi

29 Likes 2 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by samnificent(m): 4:18pm On Mar 16, 2021
I’ll pay transfer fee, Vat and Ussd.
Thank Technology for banking apps

5 Likes

Re: CBN Introduces N6.98 Charges For USSD Services by vengertime: 4:19pm On Mar 16, 2021
Anyone who survive and stay alive throughout this APC government is a HERO

128 Likes 7 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by LaserWr: 4:19pm On Mar 16, 2021
Godwin emefiele will go down as the worst governor of (CBN) we ever had cry

67 Likes 4 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by Grace001: 4:19pm On Mar 16, 2021
Nigerians can’t escape from hardship from their government.

One month can’t past without their government inflicting one or two hardship in their lives
Re: CBN Introduces N6.98 Charges For USSD Services by OscarJaden(m): 4:19pm On Mar 16, 2021
always looking for ways to milk Nigerians their hard earn money

1 Like

Re: CBN Introduces N6.98 Charges For USSD Services by Mish02: 4:19pm On Mar 16, 2021
Ok. Good

1 Like 2 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by GhostMilitant: 4:19pm On Mar 16, 2021
Nigeria we hail thee!


The man on the street is at the brunt end of all government policies.

Sadly, there is no reprieve for him.

5 Likes

Re: CBN Introduces N6.98 Charges For USSD Services by westlius(m): 4:19pm On Mar 16, 2021
Abeg who dey Europe way like 9JA abeg make we exchange country

7 Likes

Re: CBN Introduces N6.98 Charges For USSD Services by columbus007(m): 4:19pm On Mar 16, 2021
I still stand for revolution,and its still going to come

21 Likes 2 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by EXLOVER(m): 4:19pm On Mar 16, 2021
Ccc
Re: CBN Introduces N6.98 Charges For USSD Services by DennisEche(m): 4:19pm On Mar 16, 2021
grin grin grin
SOME PLS HELP WITH THAT PATIENT OZOKWO MEME LAUGHING
Re: CBN Introduces N6.98 Charges For USSD Services by Skyfornia(m): 4:19pm On Mar 16, 2021
2 things I have never and will never do with my phone/line

1. Borrow airtime/data
2. Use USSD services

33 Likes 2 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by 4tomandchi: 4:19pm On Mar 16, 2021
Nigeria is a failed state USSD that is like the last hope of the common man has now been targeted by this clueless government.

When I heard networks shouting that they were being owed by banks I just knew they were up to something.

My question is!

Where did all the money banks charged their customers go?

I pray for Nigeria my country
To have faithful leaders with conscience
Who will serve Nigeria with integrity
So help us God.

22 Likes 2 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by EXLOVER(m): 4:19pm On Mar 16, 2021
Cccc
Re: CBN Introduces N6.98 Charges For USSD Services by Bbbwings: 4:20pm On Mar 16, 2021
By the time bubu finishes with us.
Vulture barbecue will be crying to be admitted to hellfire just to pass one night.



Fg is broke.

26 Likes 3 Shares

Re: CBN Introduces N6.98 Charges For USSD Services by nickvanilla(m): 4:20pm On Mar 16, 2021
My prayer is that by the time they finally sell off this country, I and my loved ones would have successfully relocated to a saner place.

Nonsense.

7 Likes 1 Share

Re: CBN Introduces N6.98 Charges For USSD Services by Kennitrust(m): 4:20pm On Mar 16, 2021
Whatever will reduce us financially is what please this government

12 Likes 1 Share

Re: CBN Introduces N6.98 Charges For USSD Services by Mandyjosh: 4:20pm On Mar 16, 2021
This government has bn a parasite to its citizenry rather than other wise
Re: CBN Introduces N6.98 Charges For USSD Services by Zaccshegzy(m): 4:20pm On Mar 16, 2021
What again?
Re: CBN Introduces N6.98 Charges For USSD Services by 2Ways(m): 4:20pm On Mar 16, 2021
I will use the mobile banking app, I don't even like using the USSD self.

7 Likes

Re: CBN Introduces N6.98 Charges For USSD Services by Pearlyakin(m): 4:20pm On Mar 16, 2021
Hope this government won't charge us for the air we breathe soon.

7 Likes 1 Share

Re: CBN Introduces N6.98 Charges For USSD Services by Babzrockman: 4:20pm On Mar 16, 2021
Wahala for who no get app o

2 Likes

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