Four banks face the risk of having their USSD services disconnected due to unpaid debts totaling N160 billion to Mobile Network Operators (MNOs).
Despite intervention by the Nigerian Communications Commission (NCC) and Central Bank of Nigeria (CBN), banks have failed to meet a December 2024 payment deadline.
The affected banks include Fidelity Bank, FCMB, Jaiz Bank, and Sterling Bank. This disruption could impact millions reliant on USSD for mobile banking transactions.
SERAP has filed a lawsuit against the NCC and the Federal Government, challenging a 50% telecom tariff hike, describing it as unconstitutional and unfair.
A GSMA report highlights a $360 million gap for achieving 98% 4G coverage in Nigeria, despite NCC’s tariff increase aimed at supporting network expansion.
The looming disconnection threatens financial inclusion, especially for underserved areas reliant on USSD services.
SERAP’s lawsuit could shape future regulatory decisions on telecom pricing and consumer protection.
In spite of increased tariffs, stakeholders emphasize reinvestment into infrastructure to address service quality concerns.
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