The Central Bank of Nigeria (CBN) has introduced new charges for customers using the Unstructured Supplementary Service Data (USSD) services.
The apex bank has announced that from Tuesday, customers will pay N6.98 per transaction every time they use USSD services.
This was contained in a statement jointly signed by CBN’s Acting Director, Corporate Communications, Osita Nwanisobi and Director, Public Affairs, Nigerian Communications Commission (NCC), Ikechukwu Adinde.
“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,” it read in part.
It added that “this approach is transparent and will ensure the amount remains the same, regardless of the number of sessions per transaction.”
You may be interested
Atletico Madrid Pulls Out of European Super League FantasyWebby - April 21, 2021
Atlético de Madrid’s Board of Directors, which met on Wednesday morning, has decided to formally communicate to the Super League…
Senate Again Rubber Stamps Buhari’s $1.5Bn, €995m Loan RequestWebby - April 21, 2021
The Senate approved the federal government’s $1.5 billion, Euro 995 million foreign loan today. The Senate, headed by Senate President…
PANTAMI: Gajabiamila, Elumelu clash on resignation motionWebby - April 21, 2021
When Communications and Digital Economy Minister Isa Pantami’s case—his past combustible comments on Jihadism—was raised on the floor of the…