Nigerians will now pay for using the Unstructured Supplementary Service Data services (USSD).
The apex bank said effective Tuesday, customers will pay a flat fee of N6.98 per transaction every time they use USSD services.
This was contained in a statement released 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.
“Effective March 16, 2021, USSD services for financial transactions conducted at DMBs (Deposit Money Banks Business) 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 CBN said the new fee was part of the resolution reached at the meeting.