The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have released a framework on the pricing of Unstructured Supplementary Service Data (USSD) services which begin from March 16, 2021.
The two regulatory institutions revealed in a joint statement yesterday that USSD charges per transaction would now be N6.98.
The agreement was reached as a way of finding lasting solution to the pending accumulated charges of about N42 billion.
According to the statement by the CBN and the NCC, the new price was as a result the outcome of a meeting by the stakeholders chaired by the Minister of Communications and Digital Economy, Dr Isa Pantami.
Ably represented at the meeting were the various MNOs, Association of Licensed Telecoms Operators of Nigeria (ALTON), Association of Telecommunications Companies of Nigeria (ATCON), DMBs (represented by the Chairman, Body of Bank CEOs) and the sector regulators — Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC).
After comprehensive deliberations on the key issues, a resolution framework acceptable to all parties was agreed on which replaces the current per session billing structure, ensuring a much cheaper average cost for customers to enhance financial inclusion.
CBN and NCC however said they would continue to engage relevant operators and all stakeholders to promote cheaper, seamless access to mobile and financial services for all Nigerians.
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