USSD Debt: No Deadline Extension, NCC, Telcos Assert

USSD Debt: No Deadline Extension, NCC, Telcos Assert

The Nigerian Communications Commission (NCC) and telecom operators have ruled out extending the deadline for banks to settle their Unstructured Supplementary Service Data (USSD) debts. This decision, set to impact non-compliant lenders, underlines the seriousness of the January 27 deadline.

Initially, nine banks were in arrears. As of Friday, the number dropped to seven, and only two banks had completed payments. Monday saw one more bank indicating payment intent, leaving six banks behind schedule. The directive issued on January 15 by the NCC warned defaulting banks of losing access to critical USSD services, essential for millions of Nigerians conducting banking transactions.

Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria, noted that the structured repayment plan began with 60% settlement of pre-API invoices by January 2, 2025. Failure to meet deadlines could disrupt USSD services.

Upcoming phases:

• Phase 2: Full payment of pre-API invoices by July 2, 2025.
• Phase 3: Settlement of 85% post-API invoices by December 31, 2025.

Despite no extensions being planned, both NCC and CBN must approve any reconsideration. Adebayo emphasized timely compliance to prevent disruptions in digital banking services.