The Nigerian Communications Commission (NCC) has revealed that Fidelity Bank, United Bank for Africa (UBA), and First City Monument Bank (FCMB) are among the banks owing telecommunications companies over Unstructured Supplementary Service Data (USSD) codes assigned to them.
According to the NCC, the affected banks must settle their outstanding obligations by January 27, 2025, or risk losing access to their USSD codes. The commission noted that some of the unpaid invoices have remained unpaid since 2020, indicating a prolonged financial dispute between the banks and telecom operators.
The NCC’s Director of Public Affairs, Reuben Muoka, on Tuesday in a public notice disclosed that nine out of 18 financial institutions had not complied with regulatory directives. The total amount initially owed by the financial institutions was reported to exceed N200 billion.
However, the regulator did not disclose the precise debt currently owed by the affected banks. The affected USSD codes include 770, 919, and 822, among others. These codes are essential for enabling mobile banking services and could be reassigned to other applicants if the debts remain unresolved.
The other banks on the list include Wema Bank Plc, Jaiz Bank, Fidelity Bank Plc, Polaris Bank Limited, Unity Bank Plc, and Zenith Bank Plc.
