Banks in the country have begun charging N6.98 for USSD services for each transaction, NewsSpecng learnt.
For some of the users of the USSD, what they got was a message which said “Welcome to USSD Banking,” one notice said. “Please note, a N6.98 network charge will be applied to your account for banking services on this channel.”
The decision to charge users was reached in March by the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC).
The decision was part of an agreement reached with banks following a disagreement between banks and telecom firms over USSD and other text message transaction requests.
“Effective March 16, 2021, USSD services for financial transactions conducted at DMBs (Deposit Money Banks) and all CBN-licensed institutions will be charged at a flat fee of N6.98 per transaction,” the March statement partly read.
