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FG gives banks, telcos six-month ultimatum on N250bn USSD debt
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The Central Bank of Nigeria and the Nigerian Communications Commission have issued a final directive to Deposit Money Banks and Mobile Network Operators to resolve the protracted N250bn Unstructured Supplementary Service Data debt dispute.
CBN and NCC are both regulatory agencies of the Federal Government.
The directive, contained in a joint circular dated December 20, 2024, was signed by the acting Director of Payments System Management at the CBN, Oladimeji Taiwo, and the Head of Legal and Regulatory Services at the NCC, Chizua Whyte.
The document, exclusively obtained by our correspondent, outlined a structured payment plan for clearing the debt and introduced new operational guidelines for USSD services.
Under the terms of the directive, 60 per cent of all debts incurred before the implementation of Application Programming Interfaces in February 2022 must be paid as full and final settlement.
Payment agreements—whether as lump sums or instalments—must be finalised by January 2, 2025, with full settlement due by July 2, 2025.
For debts arising after February 2022, the CBN and NCC mandated that banks pay 85 per cent of all outstanding invoices by December 31, 2024, and ensure that 85 per cent of future invoices are settled within one month of issuance.
The regulators also directed both parties to discontinue all ongoing litigation related to the USSD debt issue, warning that non-compliance would attract stiff sanctions.
“In view of the foregoing, the CBN and NCC hereby direct that all DMBs and MNOs adhere strictly to the outlined payment terms to ensure final resolution of this matter. Failure to comply will result in sanctions,” the circular stated.
The move comes amid mounting pressure from telecom operators, who had earlier called for a clear payment framework to address the debt, which has strained relationships between the banking and telecom sectors.
Additionally, the regulators emphasized the transition to end-user billing for USSD services, noting that it would only apply to banks and telcos that meet the outlined payment obligations.
Pending this transition, operators are required to implement a “10-seconds rule,” ensuring sessions shorter than 10 seconds are not billed.
The circular further highlighted the opportunity for banks currently using prepaid billing systems to migrate to EUB, subject to regulatory approval.
The CBN and NCC reiterated their commitment to resolving the debt impasse, stating that the measures are aimed at fostering stability in both the financial and telecommunications sectors while ensuring the continued availability of USSD services for Nigerians.
In Nigeria, USSD is vital for financial inclusion, particularly in rural areas where smartphone penetration and internet access are limited.
Banks heavily rely on it, especially for mobile banking services, and it is also used for services like airtime top-ups, bill payments, and other telecom services.
The debt crisis has persisted for years, with telecom operators threatening to suspend USSD services unless payments are made.
While smaller banks have reportedly begun repaying their obligations in installments, tier-one lenders—responsible for the bulk of the debt—are yet to make significant payments, according to the Chairman of the Association of Licensed Telecom Operators of Nigeria, Gbenga Adebayo.
Credit: PUNCH
Troops of the Nigerian Army have, in the last 24 hours, rescued 34 kidnap victims, apprehended suspected ISWAP informants and recovered arms and ammunition in coordinated operations nationwide.
This is contained in an operational report made available to the News Agency of Nigeria (NAN) on Sunday.
The report said that troops of Operation HADIN KAI rescued 31 kidnap victims from terrorists along the Buratai-Kamuya road in Biu Local Government Area of Borno.
It said the rescue followed a swift response after troops of 135 Special Forces Battalion detected ISWAP/JAS terrorists abducting civilians from four vehicles through CCTV surveillance.
According to the report, troops immediately deployed a quick reaction force, engaged the terrorists and forced them to abandon the victims and flee, with one motorcycle left behind.
“In another operation, troops of 145 Battalion conducted a fighting patrol to the Turoh general area of Damasak in Mobbar Local Government Area.
“The terrorists reportedly fled on sighting the troops, leaving behind two motorcycles and illicit drugs recovered during exploitation of the area.
“Also, troops of 232 Battalion Tactical apprehended a suspected ISWAP informant at Garaha Market in Hong Local Government Area of Adamawa,” it said.
In the North-West, the report revealed that troops of Operation FANSAN YAMMA engaged terrorists moving with rustled cattle in Tsafe Local Government Area of Zamfara.
It added that the troops’ superior firepower forced the terrorists to withdraw in disarray during the encounter.
The report also revealed that troops of Operation MESA rescued a kidnapped woman and her two children along the old Obajana-Jakura-Tajimi road in Lokoja Local Government Area of Kogi.
According to the report, preliminary investigation revealed that the victims were abducted on July 29 from a Ruga settlement in the Gada-Biyu area of the same local government.
“In Plateau State, troops of Operation Enduring Peace responded to reports of an attack on a herder in Bassa Local Government Area.
“The assailants had fled before the troops arrived, while the deceased and recovered cattle were handed over to the victim’s family,” it added.
In the South-East, the report said the troops of Operation UDO KA recorded a major breakthrough with the arrest of three suspected terrorists linked to the ambush of troops in Imo on May 4.
It added that the operation, conducted in Delta and Imo states, followed intelligence obtained from earlier arrested suspects.
According to the report, troops recovered four AK-47 rifles, one FN rifle, a pistol, 11 AK-47 magazines, two FN magazines, 239 rounds of assorted ammunition, a fragmentation jacket and other military items from terrorist camps.
“The recovered weapons included rifles earlier carted away during the May ambush on troops, while further exploitation led to the discovery of another terrorist camp containing additional arms and ammunition,” it said.
A joint military task force has rescued a senior Nigerian Army officer, Lt. Col. Ofor Amobi, and a civilian, Mr. Ikechukwu Onwuanra, after an intensive 10-day search-and-rescue operation across forests and communities in Enugu State.
This was contained in a military operational report made available to the News Agency of Nigeria (NAN) on Saturday, August 1, 2026 in Abuja.
The breakthrough came in the early hours of Saturday following sustained operations by troops of Sector 1, Operation UDO KA (OPUK).
The search mission involved personnel of the 82 Division Garrison, 103 Battalion (Rear), the Nigerian Navy Special Boat Service (NN SBS), and the 197 Special Forces Battalion, operating under the leadership of the Commander, 82 Division Garrison, with support from the Air Component.
According to the report, between 6:00 p.m. on July 31 and 6:00 a.m. on August 1, the joint troops continued search operations using actionable intelligence across Inyi, Awlaw and Akpugo-Eze forests and adjoining communities in Oji River Local Government Area of Enugu State.News
At about 2:00 a.m., the Divisional Police Officer (DPO) of Inyi Division alerted the troops to the suspected location of the kidnapped victims.
The troops immediately mobilised and launched a fighting patrol into the area, where they discovered Lt. Col. Amobi and Mr. Onwuanra abandoned at the edge of a forest. The civilian was found with a gunshot wound.
The victims were successfully rescued and evacuated to Inyi before being moved to the 82 Division Medical Hospital for medical treatment and comprehensive evaluation.
During preliminary debriefing, the victims disclosed that they had been blindfolded shortly after their abduction and transported to an unknown location.
They said they were later abandoned in a forest around the Enugu–Anambra border as the kidnappers came under sustained operational pressure.
The military attributed the successful rescue to the relentless pressure mounted by the joint force, supported by the Air Component, which maintained continuous dominance of the suspected hideouts and denied the abductors freedom of movement throughout the 10-day operation.
The sustained search-and-rescue mission ultimately forced the kidnappers to abandon the captives and flee.
Further investigations and follow-up operations are ongoing to identify, track and apprehend those responsible for the abduction.
Fire has engulfed Lagos airport’s Terminal 2.
FAAN said its Aerodrome Rescue and Firefighting Service (ARFFS) had been deployed to contain the fire.
“The Federal Airports Authority of Nigeria (FAAN) wishes to inform the public that a fire incident has occurred at Terminal 2 of the Murtala Muhammed International Airport, Lagos,” the statement read.
“The FAAN Aerodrome Rescue and Firefighting Service (ARFFS) is currently responding to the incident and working diligently to contain the situation.”
FAAN said there were no reported casualties or loss of life.
“There have been no reported casualties or loss of life,” the authority stated.
It added that further updates would be provided as more information becomes available.
Troops rescue 34 abductees, nab ISWAP informant, recover arms
Joint military task force rescue kidnapped Lt Col, civilian after 10-day search operation
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