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If You Are Using Mobile Phone For Money Transaction, See The New Charges You Wil Pay As From Now

Do you operate bank account ? If yes , this new information is for you, read and share it to your friends and relatives.

The Central Bank of Nigeria (CBN) in conjunction with the Nigerian Communications Commission (NCC) has announced a flat rate of N 6.98 kobo per transaction as USSD services for money transactions at deposit money bank and other Central Bank of Nigeria licensed institutions .

The new fees charges take effect from 16, March, 2021. The new charges will enable banks customers to engage in money transactions at more cheaper rate than before.

The new transaction charges do not allow banks to impose any additional charges on customers for the use of USSD channel.

Meanwhile, to ensure transparency in the new charges transaction, the new USSD charges will be collected on behalf of mobile network operators directly from the customers' account.

The telecommunication operators have earlier threatened to withdraw their USSD services to banks due to the ,N 42 billion debt owed.

Content created and supplied by: Ijoyemedia. (via Opera News )

CBN Central Bank of Nigeria Nigerian USSD

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