CBN, NCC Move Against MTN, Airtel, Banks as Nigerians Cry Over Failed USSD Transactions
- The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) are on the necks of banks, telcos over failed transactions
- The two regulators have set up a joint task force to crack down on incidents of failed USSD transactions
- The development follows complaints by Nigerians and industry watchers over cases of failed transactions by the banks and telcos
Pascal Oparada, a reporter for Legit.ng, has over ten years of experience covering technology, energy, stocks, investment, and the economy.
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have launched a joint task force to tackle the persistent surge in failed electronic and USSD transactions that has frustrated millions of mobile users nationwide.
The move, announced at the 94th Telecom Consumer Parliament in Lagos, marks a rare collaboration between the two regulators to restore consumer trust and stabilise the long-strained relationship between telecom operators and banks.
Source: UGC
Consumers cry out over lost money, delayed refunds
Across Nigeria, complaints have soared over failed airtime purchases, unfulfilled data activations, and money deducted without service delivery—problems often rooted in the ongoing rift between banks and telecom operators over USSD debt settlement.
“Consumers have the right to reliable, efficient, and high-quality telecom services,” said Aminu Maida, Executive Vice Chairman of the NCC.
“Resolving failed transactions and delayed payments is now a top priority.”
According to a BusinessDay report, Maida explained that the joint task force will include representatives from the CBN, commercial banks, and mobile network operators.
Its goal: streamline digital payment channels, remove technical bottlenecks, and ensure refunds are processed swiftly.
Telcos, banks' standoff at the core
The new collaboration comes amid the lingering USSD payment impasse that has seen telcos like MTN, Airtel, and Globacom trade blame with banks over unpaid service fees and transaction failures.
The dispute has disrupted millions of digital transactions, costing consumers and small businesses time and money.
Industry analysts say the CBN–NCC task force could finally offer a structured platform for dispute resolution, enforcing accountability on both sides while ensuring users no longer bear the brunt of system failures.
NCC pushes for transparency and service quality
The NCC is also implementing broader reforms to enhance network performance.
These include new Quality of Service (QoS) regulations that mandate operators to report major outages, a bi-weekly internal performance review committee, and plans to publish national coverage maps for public access.
According to Maida, Nigeria’s telecom sector—now boasting nearly 170 million active lines and a teledensity of 78% must pair its growth with improved service quality.
“While we’ve made progress, service reliability must match consumer expectations,” he added.
Stakeholders demand swift action
Barrister Rimini Makama, NCC’s Executive Commissioner for Stakeholder Management, said the Parliament’s theme, “Addressing Network Quality for Improved Consumer Experience,” reflected the urgency of the problem.
Industry advocates, including Prof. Chiso Ndukwe-Okafor of the Consumer Advocacy and Empowerment Foundation (CADEF), praised the regulators’ move but urged immediate implementation.
Source: Getty Images
“Failed transactions have eroded trust; fixing them is essential for financial inclusion,” he said.
Protecting the Backbone of Nigeria’s Digital Economy
The NCC’s joint effort with the CBN aligns with the Federal Government’s push to safeguard critical national infrastructure and strengthen network resilience against vandalism and system collapse.
For consumers, it signals renewed hope that the long nightmare of vanished funds, failed transactions, and endless service complaints may finally be nearing its end.
Banks announce important changes in USSD service charges
Legit.ng earlier reported that major Nigerian banks, including Access Bank, United Bank for Africa (UBA), Ecobank, and Guaranty Trust Bank (GTB), have begun notifying customers of a major change in how Unstructured Supplementary Service Data (USSD) banking transactions will be billed.
In separate messages to customers, the banks confirmed that starting June 3, 2025, USSD session fees will now be charged directly from customers’ airtime as opposed to their bank accounts.
This development, according to the banks, follows a directive of the Nigerian Communications Commission (NCC) on the implementation of end-user billing proposed years ago.
Source: Legit.ng
