Full List: Zenith, GTBank, 11 Banks Clear USSD Debts to MTN, Airtel, Glo, Others
- About 13 commercial banks have fully settled their USSD debt to telecommunication companies in Nigeria
- The chairman of the Association of Licensed Telecommunication Operators of Nigeria (ALTON), Gbenga Adebayo, revealed this recently
- Adebayo said that only three banks are yet to complete payment, but have paid 95% of their debts
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
About 13 financial institutions have completely settled their outstanding debt for Unstructured Supplementary Service Data (USSD) owed to telecommunication operators, which has cleared the way for a new billing system.
The remaining three commercial banks are nearing full debt settlement of their debts, having cleared 95% of their debts.
Source: UGC
13 banks repay N170 billion USSD debt
The chairman of the Association of Licensed Telecommunication Operators of Nigeria (ALTON), Gbenga Adebayo, disclosed this at a recent event.
Adebayo said that the resolution allows for a new USSD billing structure, which allows banks to charge users’ airtime rather than their bank accounts.
The update on debt repayment and the new billing system were disclosed at an event on Thursday, June 19, 2025, at an online forum hosted by MTN.
The ALTON boss said that there has been substantial progress in resolving the lingering USSD debts, stating that as of January 2025, the outstanding debt from banks to MNOs for USSD services stood at N180 billion.
New USSD billing system begins
He said that of the 17 commercial banks with pre-API outstanding payments, 13 have fully settled their debts, and the remaining three are about to complete payments.
The telecom operators and banks have collaborated, aided by relevant regulators, to standardise charges for USSD banking transactions, leading to a unified rate of N6.98 per transaction.
Financial institutions had previously debited customers' bank accounts, which had been challenging regarding transparency, accurate billing and control.
USSD debt: Users’ airtime to be charged
However, an application programming interface (API) was developed, allowing banks full control of their USSD channels.
To ensure a hassle-free transaction and consistent experience, a standardised process for end-user billing has been implemented across all networks and banks.
This means that customers dialling a bank’s USSD code will be reminded that their airtime, and not their bank accounts, will be charged, after which N6.98 deductions will be effected on their airtime.
Vanguard reports that all mobile network operators have also unified their messaging to customers, alerting them to the new billing system and clarifying if a transaction failed due to hitches on the bank’s end or the telco’s fault.
Consequently, airtime purchases from banks now attract zero charges when customers use direct strings by dialling the required USSD code for airtime purchases.
Source: Getty Images
Another telcom launches in Nigeria
Legit.ng earlier reported that Lebara Nigeria, a subsidiary of the London-based Mobile Virtual Network Operator (MVNO) Lebara, has officially secured the 0724 phone number series as it prepares to fully launch in Q3 2025.
The new development marks a major step in its strategic entry into the Nigerian telecom market.
In a statement, the company said it has secured full interconnectivity with all major mobile network operators in the country.
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Source: Legit.ng
