Nigerians will henceforth pay N6.98 for each USSD transaction session starting this month of June, according to a report by DailyPost.
USSD is mainly used by Nigerians who do not have access to the internet.
“Welcome to USSD Banking. Please note, a N6.98 network charge will be applied to your account for banking services on this channel,” one notice read.
The decision was part of an agreement reached following a disagreement between banks and telecom firms over USSD and other text message transaction requests.
A joint statement signed by the CBN and NCC said “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.”
The charge will be removed from users’ bank accounts and remitted to mobile network operators.
You may be interested
For How Long Is My Motor Insurance Policy Valid?Webby - September 12, 2022
When purchasing auto insurance, you can tailor many aspects, including the types of coverage you select, the amount of your…
Hunter’s son testing bulletproof charm shoots brother dead in KwaraWebby - October 3, 2022
File photo of a gunThe son of a hunter in Kwara State has shot dead his brother while testing a…
APC Chieftain Gives Update On Tinubu’s Health StatusWebby - October 3, 2022
The Deputy National Publicity Secretary of the All Progressive Congress, Hon. Yakubu Ajaka, has said that the party’s presidential candidate,…
2023: ‘I have Nigeria’s solution, many people wasting their time’ – Fr. MbakaWebby - October 3, 2022
Enugu fiery priest, Rev. Fr. Ejike Mbaka was on it again during the re-opening of the Adoration Ministry on Sunday.…