The Nigerian Communications Commission (NCC) has authorized telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine financial institutions due to unpaid debts.
The affected banks, including Fidelity Bank Plc, First City Monument Bank, Jaiz Bank Plc, Polaris Bank Limited, Sterling Bank Limited, United Bank for Africa Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc, have until January 27, 2025, to settle their outstanding debts.
The NCC’s directive comes after nine out of 18 financial institutions failed to comply with regulatory directives, despite other banks clearing their debts.
The total amount owed by the financial institutions exceeds N200 billion, with some invoices remaining unpaid since 2020.
If the debts remain unresolved, the affected USSD codes, including 770, 919, and 822, may be reassigned to other applicants.
The NCC warned that consumers may face service disruptions if the issues remain unresolved.
