NCC Suspends USSD for Nine Banks: full list

The Nigerian Communications Commission (NCC) has approved telcos’ decision to suspend USSD services for nine banks due to an accumulated debt of N160 billion since 2019. The banks affected include:

• 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
• Zenith Bank Plc

The use of Unstructured Supplementary Service Data (USSD) platform has been crucial to the Central Bank of Nigeria’s (CBN) push for a cashless economy. USSD allows bank customers to access financial services on their phones without the need for the internet. However, this initiative is threatened due to ongoing disputes over outstanding debts between Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs).

Since 2019, nine banks have been unable to settle an accumulated debt of N160 billion. Initially, the list consisted of 18 banks before the Nigerian Communications Commission (NCC) announced that nine of these banks had paid, while another nine had yet to pay. The nine bank customers yet to pay now face being cut off from USSD services by Monday, January 27, 2025.

According to the Nigerian Communications Commission, telcos will disconnect the USSD access of these banks if they do not pay their debt. The NCC said, “In fulfilment of its consumer protection mandate, the Commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025.”

Here are their USSD codes:

• Fidelity Bank Plc: *770#
• First City Monument Bank: *329#
• Jaiz Bank Plc: *773#
• Polaris Bank Limited: *833#
• Sterling Bank Limited: *822#
• United Bank for Africa Plc: *919#
• Unity Bank Plc: *7799#
• Wema Bank Plc: *945#
• Zenith Bank Plc: *966#

Services available through USSD codes include checking your bank balance, requesting a new card, blocking a card, changing your card, requesting a statement, transferring funds, recharging for a third-party, paying bills, and opening a bank account.

To use the USSD code for any bank transaction, you must activate the code on your mobile phone using your choice phone number. Most banks require you to register for a new account or have an old bank account with them before you can access those financial services. After this, a user sets up a 4- or 5-digit transaction PIN to authorize all transactions. This PIN also serves as a shield to prevent impersonators or fraudsters from accessing the account.