{"id":35603,"date":"2019-10-24T20:28:19","date_gmt":"2019-10-24T19:28:19","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=35603"},"modified":"2019-10-24T20:28:19","modified_gmt":"2019-10-24T19:28:19","slug":"bank-ceos-applaud-nccs-decision-to-suspend-ussd-charges-by-telecommunication-companies-for-accessing-bank-services","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/bank-ceos-applaud-nccs-decision-to-suspend-ussd-charges-by-telecommunication-companies-for-accessing-bank-services\/","title":{"rendered":"Bank CEOs Applaud NCC\u2019s Decision To Suspend USSD Charges By Telecommunication Companies For Accessing Bank Services"},"content":{"rendered":"<p>The Body of Bank CEOs applauds the recent notice from the National Communications Commission (NCC) announcing the immediate suspension of end-user billing for Unstructured Supplementary Service Data (USSD) services.<\/p>\n<p>In a statement, the CEOs who commended the Government for championing this action, noted that &#8220;When presented with two options by the telecommunications companies \u2013 corporate billing versus end-user billing \u2013 banks supported the standard practice for a relationship between a telecommunications company and their subscribers. We proposed the same method they charge for voice calls, SMS and data. We then asked to work with the telecommunications companies to bring the cost of their USSD service down for Nigerians. We were therefore very surprised at the announcements from MTN on the 19th and 20th October.<\/p>\n<p>&#8220;Since banks cannot reasonably be expected to charge for the service of another industry, over which they have no control of price, quality and security we are delighted that consumers will now be able to access their bank for free, using USSD. This is a giant leap for the National Financial Inclusion Strategy where, through Bank\u2019s subsidising USSD, we have already been able to bring 20m Nigerians into the formal financial system in recent years.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>&#8220;The Banks, supported by the Central Bank of Nigeria, have long advocated the designation of USSD services as a critical national asset to enable such free access to USSD. Indeed, in countries like India, free access to USSD channels have long been established to successfully drive financial inclusion.<\/p>\n<p>&#8220;We look forward to working with the telecommunications industry to achieve the objectives of the National Financial Inclusion Strategy. We believe that with this new development, we will achieve 80% financial inclusion in 2020&#8221;, they added.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Body of Bank CEOs applauds the recent notice from the National Communications Commission (NCC) announcing the immediate suspension of end-user billing for Unstructured Supplementary Service Data (USSD) services.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":24836,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[6311],"coauthors":[2391],"class_list":["post-35603","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-banks-ceos"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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