CBN introduces new USSD charges for customers



The Central Bank of Nigeria (CBN) has asked customers using the Unstructured Supplementary Service Data (USSD) services to pay N6.98 per transaction.

The directive takes effect from Tuesday, according to a joint statement by the apex bank’s Acting Director, Corporate Communications, Osita Nwanisobi and Director, Public Affairs, Nigerian Communications Commission (NCC), Ikechukwu Adinde.

The statement read in part: “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.

“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.”


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