The Nigerian Communications Commission has instructed Deposit Money Banks to begin collecting charges for unstructured supplementary service data transactions directly from users’ mobile airtime.

A message sent to customers by the United Bank for Africa on Tuesday indicated that these charges will no longer be taken from customers’ bank accounts. UBA noted that the new instruction becomes effective on Tuesday, June 3, 2025.

The message stated, “In line with the directive of the Nigerian Communications Commission, please be informed that effective June 3, 2025, charges for USSD banking services will no longer be deducted from your bank account.

“Going forward, these charges will be deducted directly from your mobile airtime balance in accordance with the NCC’s End-User Billing model. Under this new billing structure, each USSD session will attract a charge of n6.98 per 120 seconds, which will be billed by your mobile network operator.

“You will receive a consent prompt at the start of each session, and airtime will only be deducted upon your confirmation and availability of the bank to fulfil this service. If you do not wish to continue using USSD banking under this new model, you may choose to discontinue use of the USSD channel.”

UBA encouraged customers to keep using other digital banking alternatives and internet banking for a smoother experience. This directive may represent another step by the NCC to resolve the long-standing issues regarding USSD payments between Mobile Network Operators and commercial banks.

In December 2024, the Central Bank of Nigeria and the NCC instructed both mobile network providers and Deposit Money Banks to find a resolution to the N250 billion USSD debt that had persisted over time.

After telecom companies threatened to halt services due to the debts owed by banks, the NCC responded in January by warning of a possible suspension of USSD services and said it would release the names of defaulting banks.

On January 15, the regulator ordered mobile operators to deactivate the USSD codes allocated to nine banks by January 27 as a result of unsettled debts. Later, on February 28, MTN Nigeria disclosed that it had received N32 billion from banks, part of the N72 billion total debt for USSD services.

Telecom providers had consistently raised alarm about the unpaid USSD charges, prompting continued efforts within the sector to address the issue.

Abdulrasheed Bawa, who previously chaired the Economic and Financial Crimes Commission (EFCC), has announced the release of a new book that examines fraudulent activities within Nigeria’s petrol subsidy system.

The book, ‘The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud’, is being published by Cable Books and will become available on June 5.

Cable Books operates under Cable Media and Publishing Ltd. The nationwide distribution of the book will be handled by Roving Heights Bookstore.

Bawa held the position of EFCC chairman from February 2021 until June 2023.

In his book, he shares insights into how the petrol subsidy program was exploited to divert public funds. These accounts are based on his role as a lead investigator on the EFCC task force that looked into the 2012 subsidy scandal.

He explains that the commission was able to recover billions of naira and bring numerous offenders to justice.

He further describes how widespread corruption made it possible for the fraud to persist over time.

Bawa outlines various fraudulent tactics used, such as ghost imports, inflated invoicing, tampering with bills of lading, circular trading, duplicate claims, and illegal diversion and smuggling.

He states that these actions were made possible by falsified documents, inadequate regulation, and coordinated misconduct between corrupt officials and private companies.

According to Bawa, the book goes beyond documenting fraud; it is also a push for reform and greater accountability in how Nigeria manages public finances.

President Bola Tinubu ended the petrol subsidy scheme on May 29, 2023, during his inauguration speech.

Following the removal, petrol prices surged from N190 to N500 and have since continued rising, now costing over N850.

An unidentified man reportedly fell from one of the upper floors of the 26-storey Cocoa House in Ibadan, Oyo State.

The incident, which caused panic among members of the business community, was said to have taken place early Monday morning.

According to The Punch, witness who spoke under anonymity, said, “When the incident happened, I initially thought it was a large bird falling from the sky.

“It was only when the person landed that I realised it was a human being.

“I had my phone with me but I couldn’t even record anything because I was completely shocked.”

Another witness stated, “The victim first hit a roof beside the security post of the building before landing on the ground. It was a terrifying sight.”

At the time of reporting, details surrounding the tragic event remained unclear as investigations were still ongoing.

Meanwhile, Odu’a Investment Company Limited, the managers of Cocoa House, issued a statement on Tuesday in Ibadan confirming the incident.

Victor Ayetoro, Head of Branding and Communication for the company, who signed the statement, said, “The individual involved was swiftly attended to by the emergency response team and taken to the University College Hospital, Ibadan, for urgent medical attention.

“The company expressed deep concerns over the development and assured the public of its full cooperation with authorities investigating the cause of the fall,” he added.