Business

USSD N6.98 charges: Lower subscription rates to drive adoption of mobile banking, Agbaje urge telcos

Ihesiulo Grace 20 May 2023 0

Says mobile banking best for financial inclusion By Temiope Adebayo Believes internet-based mobile banking, Segun Agbaje, CEO of The GTCO Group said not USSD technology, is crucial for financial inclusion in Nigeria. He also believes telcos should lower the data subscription rates to

News

How we’ll handle new USSD fee — Customers

Ihesiulo Grace 9 June 2021 0

Some bank customers on Wednesday said they would opt for alternative channels in view of the new fee of N6.98 introduced for use of Unstructured Supplementary Service Data (USSD) platform for banking transactions. Some of the customers who spoke in separate interviews with the News Agency of Nigeria (NAN) in Lagos, said that they would […]

News

USSD Charges: Banks commence N6.98 deductions

Ihesiulo Grace 7 June 2021 0

Customers of several banks have been informed that they will be charged N6.98 for each USSD transaction. Excessive bank charges, on the other hand, may constitute a threat to financial inclusion, according to experts. According to them, it will promote cash transactions because many bank clients would avoid using the USSD for transactions, and it […]

Business

Telecoms, Banks agree on USSD charges

Ihesiulo Grace 5 April 2021 0

Following the involvement of Dr. Isa Ali Pantami, the Minister of Communications and Digital Economy, the two industry regulators, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC), agreed yesterday to find a middle ground in their dispute. Mr. Karl Toriola, the chief executive officer of MTN Nigeria, Mr. Herbert Wigwe, the group […]

Business

GTBank reports 32.8% increase in USSD transaction to N3.55trn in 2019

Ihesiulo Grace 16 March 2020 0

Guaranty Trust Bank plc (GTBank) has reported 32.8 per cent increase in its Unstructured Supplementary Service Data (USSD) transactions in 2019 to N3.55trillion as against N2.68trillion reported in 2018. The lender in its presentation to investors and analysts disclosed that total volume of USSD transaction in 2019 was 575.8 million, 33.4 per cent increase over […]

Business

Carbon boosts financial inclusion with introduction of USSD

Ihesiulo Grace 26 February 2020 0

As part of efforts in reducing financial exclusion in the country, Carbon, a digital financial services company, has introduced a USSD service to its platform, making it easier for individuals to access financial services. This new service will allow existing Carbon customers to access instant loans and other payment solutions via USSD without requiring internet […]

Business

CBN says no to MTN’s plan to charge for USSD transactions

Ihesiulo Grace 21 October 2019 0

Washington – The Central Bank of Nigeria (CBN) has opposed plans by MTN to charge their subscribers for Unstructured Supplementary Service Data (USSD) access to banking services from Oct. 21. This came as the minister of communications, Isa Pantami, has directed the Nigerian Communications Commission (NCC) to work with the telecommunications service providers to

Business

NCC cuts telcos USSD charge to N4.89k per session

Ihesiulo Grace 9 August 2019 0

Ladesope Laasdelokun The Nigerian Communications Commission (NCC) has issued an order to all telcos to bring down their Unstructured Supplementary Service Data (USSD) services to no more than N4.89k per session. This came after the Commission issued a regulatory document titled Determination of USSD Pricing which is binding on all Mobile Network Operators (MNOs). The […]