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CBN Introduces N6.98 Charges For USSD Services

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The Central Bank of Nigeria has introduced new charges for customers using the Unstructured Supplementary Service Data services.

The apex bank said effective Tuesday, customers will pay a flat fee of N6.98 per transaction every time they use USSD services.

It said the new charges was part of the agreement reached when banks and telecommunication operators met on Monday to discuss the N42bn debt owed mobile operators by banks.

This was contained in a statement released on Tuesday and jointly signed by the apex bank’s Acting Director, Corporate Communications, Osita Nwanisobi; and Director, Public Affairs, Nigerian Communications Commission, Ikechukwu Adinde.

The statement was titled, ‘Joint Statement By Central Bank Of Nigeria and Nigerian Communications Commission On Pricing Of Unstructured Supplementary Service Data (USSD) Services’.

It partly read, “We are pleased to announce that after comprehensive deliberations on the key issues, a resolution framework acceptable to all parties was agreed thus:

“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.

“To promote transparency in its administration, the new USSD charges will be collected on behalf of MNOs (Mobile Network Operators) directly from customers’ bank accounts. Banks shall not impose additional charges on customers for us of the USSD channel.”

The Federal Government had last week asked telecommunication operators to put on hold, their impending suspension of USSD services over a N42bn debt owed by banks.

Minister of Communications and Digital Economy, Isa Pantami, had convened a meeting with financial institutions and mobile network operators on Monday.

The CBN said the new charges was part of the resolution reached at the meeting.

The statement jointly issued by the CBN and the NCC also said a settlement plan for outstanding payments incurred for USSD services, previously rendered by mobile network operators was being worked out by all parties in a bid to ensure that the matter is fully resolved.

It said financial institutions and telcos will discuss and agree on the operational modalities for the implementation of the new USSD pricing framework, including sharing of Application Programme Interface to enable seamless, direct, and transparent customer billing.

“With the above resolutions, the impending suspension of DMBs from the USSD channel is hereby vacated. Therefore, DMBs shall no longer be disconnected from the USSD channel.

“The general public is reminded that the USSD channel is optional, as several alternative channels such as mobile apps, internet banking, and ATMs may be used for financial transactions.

“The CBN and NCC shall continue to engage relevant operators and all stakeholders to promote cheaper, seamless access to mobile and financial services for all Nigerians,” the statement concluded.

BIG STORY

BREAKING: Tinubu Suspends Emergency Rule In Rivers, Asks Fubara To Resume Tomorrow

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President Bola Tinubu has lifted the emergency rule imposed in Rivers State.

In a statement released on Wednesday, the president directed Siminalayi Fubara, the suspended governor, to return to office on Thursday, September 18.

Tinubu also instructed Ngozi Nma Odu, the deputy governor, along with members of the Rivers State House of Assembly, to resume their official responsibilities.

The state had been under emergency rule for the past six months.

More to come…

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BIG STORY

Elumelu Mourns Colleagues Who Died In Afriland Fire Incident, Cuts Short US Trip

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Chairman’s Speech

I am shattered by yesterday’s devastating incident at Afriland Towers that took the lives of our dear colleagues.

No words can capture the magnitude of this loss — not for their families who loved them, not for the friends who valued them, and not for those of us who worked beside them.

Yesterday was a stark reminder of what truly matters: our irreplaceable people, those who walk through our doors each day and share our mission.

I learnt of this on my way to the US, enroute to New York for UNGA. I have cut short my trip to return to Lagos as a mark of respect to our lost colleagues.

As we navigate this grief, I urge you all to reach out to those who are receiving care.

In the coming days, we will convene colleagues in a memorial to honour the memories of the departed, as we provide support to their families.

I also want to thank all those who supported in one way or the other, from emergency responders and first aid workers to members of the public who showed courage and compassion.

A minute’s silence will be observed today at12:00 noon, WAT, across all our group companies.

May this never happen again in our Group. May the souls of the departed rest in perfect peace.

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BIG STORY

Saudi Arabia Frees Three Nigerian Pilgrims Detained For Alleged Drug Trafficking After FG Intervention

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Three Nigerian pilgrims arrested in Saudi Arabia over alleged drug trafficking have been released following high-level intervention by Nigerian authorities.

The National Drug Law Enforcement Agency (NDLEA) confirmed their release at a press briefing on Wednesday.

Femi Babafemi, NDLEA’s Director of Media and Advocacy, said the freedom of the detainees came after engagements between the agency and Saudi authorities. He disclosed that the pilgrims — Mrs Maryam Hussain Abdullahi, Mrs Abdullahi Bahijja Aminu, and Mr Abdulhamid Saddieq — were held in Jeddah for four weeks before being cleared.

Babafemi advised passengers to ensure proper luggage tagging to avoid falling victim to drug trafficking syndicates that manipulate baggage handling systems.

In August, the NDLEA had arrested a suspected drug kingpin, Mohammed Abubakar, also known as Bello Karama, and five members of his syndicate, accused of planting narcotics in the luggage of unsuspecting pilgrims at the Malam Aminu Kano International Airport (MAKIA).

According to investigations, the syndicate — in collusion with staff of the Skyway Aviation Handling Company (SAHCOL) — secretly tagged six additional bags to the names of the pilgrims, three of which contained illicit substances.

While the suspects checked in the drug-laden luggage on Ethiopian Airlines flight ET940 from Kano to Jeddah via Addis Ababa, Karama himself travelled separately on Egypt Air. Other accomplices identified include Abdulbasit Adamu, Murtala Olalekan, Celestina Yayock, and Jazuli Kabir. NDLEA said evidence of payments linked to the scheme had been traced to them.

Babafemi noted that NDLEA Chairman, Brig Gen. Buba Marwa (rtd.), personally engaged officials of Saudi Arabia’s General Directorate of Narcotics Control (GDNC), armed with Nigeria’s investigation report and charges filed against the syndicate. The discussions, he said, were held at multiple levels, both in Nigeria and Saudi Arabia, in line with President Bola Tinubu’s directive that no Nigerian should suffer unjustly abroad.

“One of the pilgrims was freed on September 14, and the remaining two were released on September 15, 2025,” Babafemi said.

Marwa expressed gratitude to Saudi authorities for their cooperation, stressing that the release reflected the spirit of the Memorandum of Understanding (MoU) between NDLEA and the GDNC. He also commended President Tinubu for backing the efforts, alongside Attorney General Lateef Fagbemi, Foreign Affairs Minister Yusuf Tuggar, Aviation Minister Festus Keyamo, and National Security Adviser Nuhu Ribadu.

He said: “The biggest support came from President Tinubu, who is committed to ensuring that every Nigerian receives fair treatment globally. This case demonstrates that no Nigerian will be unjustly punished for crimes they know nothing about.”

The incident, however, reignited concerns about airport security in Nigeria, with authorities pledging stricter checks at Kano airport to curb similar criminal practices.

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