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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
A witness in the trial of former governor of Kaduna state, Nasir Ahmad El-Rufai on the alleged wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu has admitted that El-Rufai confirmed the wiretapping remarks during a television interview.
The Department of security service (DSS) witness, Barrister Deji Adeyanju told the Federal High Court in Abuja on Monday that he appeared for an interview program on Arise Television Station on February 16, the same day El-Rufai made the confession on the same television.
Adeyanju, the second prosecution witness in the trial, told the Court that the former governor admitted during the television interview that “we listened to the conversations of the NSA.”
Led in evidence by prosecution counsel, Oluwole Aladedoye, Adeyanju confirmed that he knew El-Rufai as a former governor of Kaduna State and recalled issuing a public statement after reports emerged that the former governor was to be arrested by security operatives.
The prosecution tendered the subpoena used to summon Adeyanju, which was admitted and marked as Exhibit G.
The court also viewed the Arise Television interview involving El-Rufai, after which Adeyanju confirmed the recording and the statements allegedly made during the programme.
The prosecution subsequently tendered Adeyanju’s own interview contained in a flash drive alongside a certificate of compliance. Both were admitted in evidence as Exhibits H and H1.
While giving evidence, Adeyanju told the court that he was later invited by the Department of State Services, DSS, where he was asked to recount what transpired at the television studio.
According to him, he confirmed to investigators that he was present when El-Rufai made the statements on air and that when further questioned during the interview, the former governor stated that someone carried out the phone tapping and passed the information to him.
Under cross-examination by defence counsel, Paul Erokoro, Adeyanju stated that while he did not hear El-Rufai specifically say he hacked the phone lines of the National Security Adviser, NSA, he heard him say, “we listened to the conversations of the NSA.”
When asked whether he knew the means through which the NSA makes calls, and if he would be surprised to learn that DSS investigators did not ask the NSA which of his devices was allegedly compromised, he replied that those were not his business.
Meanwhile, the prosecution tendered an official gazette without objection from the defence. The document was admitted and marked as Exhibit I.
The matter was adjourned until June 23 for continuation of trial.
The DSS had filed a charge against El-Rufai over his alleged involvement in wiretapping the telephone lines of the NSA, Mallam Nuhu Ribadu.
In the three-count charge, marked: FHC/ABJ/CR/99/2026 was filed early before the Federal High Court in Abuja, the secret police accused the former governor of breaching the Cybercrimes Prohibition Act, (2024), and the Nigerian Communications Act (2003.)
Counts in the charge read:
*That you, Mallam Nasir El Rufai, adult, male, on 13th February, 2026, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, within the jurisdiction of this court, did admit during the interview that you and your cohorts unlawfully intercepted the phone communications of the National Security Adviser, Nuhu Ribadu and thereby committed an offence contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc) Amendment, Act, 2024.
*That you, Mallam Nasir El Rufai, adult, male, on 13t February, 2026, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, within the jurisdiction of this court, did state during the interview that you know and relate with certain individual, who unlawfully intercepted the Phone Communications of the National Security Adviser, Nuhu Ribadu, without reporting the said individual to relevant Security agencies and thereby committed an offence contrary to and punishable under Section 27 (b) of the Cybercrimes (Prohibition, Prevention, etc) Amendment, Act, 2024.
*That you, Mallam Nasir El Rufai, adult, male, and other still at large, sometime in 2026, in Abuja, within the jurisdiction of this court, with others still at large did use technical equipment or systems which compromised public safety, national security and instilling reasonable apprehension of insecurity among Nigerians by unlawfully intercepting the phone communications of the National Security Adviser, Nuhu Ribadu, to which you admitted during an interview on 13th February, 2026, on Arise TV station’s Prime Time Programme in Abuja and thereby committed an offence contrary to and punishable under Section 131(2) Nigerian Communications Act 2003.
Former Delta State Governor, Ifeanyi Okowa, was at the Lagos office of the Economic and Financial Crimes Commission (EFCC) on Awolowo Road, Ikoyi, today in connection with an ongoing investigation into allegations of illegal diversion of about ₦1.3 trillion.
The EFCC spokesman, Dele Oyewale, was not available for comments on the issue, but a source within the commission who did not want to be named told Channels Television that the former governor is being investigated for alleged diversion of 13 per cent derivation funds accrued to Delta State from the Federation Account between 2015 and 2023.
The former governor was previously arrested on November 4, 2024, and questioned by operatives of the EFCC at its Port Harcourt Zonal Directorate over the allegations.
He reportedly showed up at the Lagos office today, in a bid to secure the release of his passport to enable him to travel abroad for medical treatment.
As of the time of this report, it was unclear whether his request was granted by the anti-graft agency.
As the Malawian government moves to evacuate its citizens from South Africa following renewed xenophobic attacks, Nigerians caught in the unrest have expressed frustration over what they describe as a lack of support from their home country.
Chairman of the Pentecostal Fellowship of Nigeria (PFN) in Gauteng, South Africa, Ikye Okwuakwu, has called on President Bola Ahmed Tinubu to urgently intervene and assist Nigerians affected by the crisis.
Speaking amid reports that thousands of foreign nationals have been displaced and are currently sheltering in temporary camps, Okwuakwu questioned Nigeria’s response to the situation.
“Malawi is taking its people home. What is Nigeria doing for its own citizens?” he asked.
He urged the Federal Government to take immediate steps to protect and support Nigerians stranded in South Africa, warning that many are facing uncertainty and hardship as tensions persist in affected communities.
The appeal comes as concerns continue to grow over the welfare and safety of foreign nationals impacted by the wave of xenophobic violence in parts of South Africa.
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