₦6.98: CBN introduces new charges for USSD services | Theinfong

CBN


The apex financial institution within the nation, the Central Financial institution of Nigeria (CBN) has launched new prices for patrons utilizing the Unstructured Supplementary Service Information companies also called USSD codes.

In line with the Nation experiences, the apex financial institution stated from Tuesday prospects can pay a flat charge of N6.98 per transaction each time they use USSD companies.

The costs have been a part of the agreements after banks and telecommunication operators met on Monday to debate the N42bn debt owed cellular operators by banks, the Nations report.

An announcement on Tuesday and collectively signed by the apex financial institution’s Appearing Director, Company Communications, Osita Nwanisobi; and Director, Public Affairs, Nigerian Communications Fee, Ikechukwu Adinde, defined: “We’re happy to announce that after complete deliberations on the important thing points, a decision framework acceptable to all events was agreed thus:

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“Efficient March 16, 2021, USSD companies for monetary transactions performed at DMBs (Deposit Cash Banks) and all CBN-licensed establishments will probably be charged at a flat charge of N6.98 per transaction.

“This replaces the present per session billing construction, making certain a less expensive common price for patrons to reinforce monetary inclusion.

“This method is clear and can guarantee the quantity stays the identical, whatever the variety of periods per transaction.

“To advertise transparency in its administration, the brand new USSD prices will probably be collected on behalf of MNOs (Cellular Community Operators) instantly from prospects’ financial institution accounts. Banks shall not impose further prices on prospects for us of the united states channel.”

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The Federal Authorities final week requested telecommunication operators to placed on maintain, their impending suspension of USSD companies over N42bn debt owed by banks.

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