The Central Bank of Nigeria (CBN) has introduced a new charge for customers using the Unstructured Supplementary Service Data (USSD) services, effective March 16, 2021.
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) said customers will now be charged N6.98 on every transaction done using the USSD services.
This was contained in a statement jointly signed by CBN’s Acting Director, Corporate Communications, Osita Nwanisobi and Director, Public Affairs, Nigerian Communications Commission (NCC), Ikechukwu Adinde.
The new USSD service charge will be applicable to all financial transactions done via DMBs (Deposit Money Banks) and all CBN-licensed institutions which will be a flat fee of N6.98 per transaction.
“This replaces the current per session billing, ensuring a much cheaper average cost for customers and enhances inclusiveness for the unbanked in the financial sector.
