Connect with us

Auto

CBN Orders Banks to Move Services from Telcos Charging for USSD Transactions

Published

on

Nigerian Banks

By Adedapo Adesanya

Commercial banks offering financial services to its customers through the use of the Unstructured Supplementary Service Data (USSD) via telecommunications companies operating in Nigeria have been directed to move to telcos charging less for the transaction.

This directive was given by Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Sunday in the United States of America, where he was for the IMF/World Bank Annual Meetings.

On Sunday, one of the telcos, MTN, in a notice sent to its customers had stated that, “Please note that from October 21, we will charge N4 per 20 seconds for USSD access to banking services. Thank you.”

But this was greeted with harsh criticisms from both subscribers and regulators, including the Nigerian Communications Commission (NCC), which was asked by federal government to halt the planned imposition of N4 per transaction charge for the banking transaction.

The Minister of Communications, Mr Ibrahim Pantami, had in a statement signed by his media aide, Mr Uwa Suleiman, urged the commission to look for ways of bringing down the cost of data and illegal deductions of airtime by service providers.

“The attention of the Federal Ministry of Communications has been drawn to the viral text message allegedly sent by the Mobile Network Operator MTN Nigeria and other Mobile Operators notifying subscribers of a four naira (N4:00) charge per 20 seconds on USSD access to banking services from the 21st of October 2019.

“The office of the Minister of Communications, Dr. Isa Pantami, is unaware of this development and has hereby directed the sector regulator, the Nigerian Communications Commission (NCC) ensures the operator suspends such plans until the Honourable Minister is fully and properly briefed,” the statement read in part.

While also reacting to the issue, Mr Emefiele informed the banks to move their services to telcos that are willing to offer such service at the lowest or even zero charges.

“I have told the banks that they have to move their business and move their traffic to a telecom company that is ready to provide it at the lowest possible and if not at zero cost and there is where we stand and we must achieve it,” he said in a message on the matter.

Speaking further, the apex bank chief said, “You are all aware that there is a drive for us to deepen financial inclusion in Nigeria. I had made my commitments to Bill Gates Foundation as well as Queen Maxima that we would deepen financial inclusion and that by 2020 the rate of financial inclusion would have accelerated to about 80 per cent.

“At this time, we are close to about 65 percent. We moved from about 42 percent to 65 percent in about 18 months and we believe that we can achieve this 80 percent if everybody, that is the bank and telecoms company, cooperate with us.

“About five months ago, I held a meeting with some telecoms companies and leading banks in Nigeria in Lagos and the issue on cost of USSD came up. We came to a conclusion that the use of USSD is a sunk cost, meaning that it is not an additional cost on the infrastructure of the telecoms companies.

“But the telecoms companies disagreed with us and said it was an additional investment in infrastructure and that for that reason, they needed to impose the charge. I appealed to them to please review this downwards and they refused.

“I understand that about three to four weeks ago, rather than reduce it, they went ahead to increase by 300 percent. I opposed it and I have told the banks that we would not allow this to happen. The banks are the people who give these businesses to the telecoms companies and I leave the banks and the telecoms companies to engage.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Auto

Detty December: Pernod Ricard, FRSC Launch Anti-Drunk Driving Campaign

Published

on

Pernod Ricard FRSC

By Adedapo Adesanya

Global leader in the spirits and wine industry, Pernod Ricard, in partnership with the Federal Road Safety Corps (FRSC), has launched the Don’t Drink and Drive campaign in Lagos to raise awareness about the dangers of drunk driving and promote responsible drinking habits among road users, during the Detty December festivities.

The campaign, themed Take Responsibility for Your Safety – Don’t Drink and Drive, aims to reduce road accidents and fatalities during the festive season and beyond. According to the FRSC, drunk driving remains a leading cause of road crashes in Nigeria, with Lagos State being particularly vulnerable due to its vibrant nightlife and high vehicle population.

Speaking at the launch event, the Managing Director of Pernod Ricard Nigeria, Mr Michael Ehindero, emphasized the company’s commitment to promoting responsible drinking and road safety.

“At Pernod Ricard Nigeria, we believe in encouraging responsible choices and promoting a culture of safety on our roads,” he said.

Corps Commander Kehinde G. Hamzat, Sector Commander of FRSC Lagos State, who was represented by Deputy Corps Commander Edith Eloka echoed the importance of collective responsibility in ensuring road safety. “Road safety is a shared responsibility, and we must work together to prevent crashes and save lives,” he said.

The campaign includes sensitization programs for commercial drivers, road users, and the general public, as well as collaborations with government agencies, civil society, and private sector partners to amplify the message of responsible drinking and road safety.

It is part of Pernod Ricard Nigeria’s global Sustainability & Responsibility roadmap, which aligns with the United Nations Sustainable Development Goal 3 that promotes good health and well-being, and is reflected in its global purpose statement, which states: “We are committed to being a responsible and sustainable company, creating a better tomorrow for all our stakeholders.”

The event secured 1,500 pledges from participants at the Ikeja City Mall, The Event Centre, and ABC Transport Company, with goodwill messages from stakeholders, including the National Union of Road Transport Workers (NURTW), the Ministry of Transportation, the National Drug Law Enforcement Agency (NDLEA), and the Nigerian Association of Road Transport Owners (NARTO).

While admonishing safe road usage, Corps Road Safety Commander, Mr Godwin Uweni, Head of Operations, Ikotun Unit Command FRSC, advised motorists to prioritize road safety and adhere to FRSC guidelines.

At ABC Motor Park, there was a head-to-head trivia competition with gift items and stickers with the “Don’t Drink & Drive” message to drivers, who were also encouraged to share their experiences on social media, using the branded hashtag, Don’t Drink and Drive.

Last year, the company partnered with FRSC and other stakeholders to promote road safety through the Don’t Drink and Drive campaign, and responsible drinking practices with its Drink More Water activation.

Continue Reading

Auto

Lagride Gets $100m UBA Loan for EV Charging Infrastructure, Others

Published

on

Lagride $100m UBA loan

By Modupe Gbadeyanka

The United Bank for Africa (UBA) Plc has provided a financing facility worth about $100 million to assist Lagride expand its electric vehicle charging infrastructure in Lagos State.

The loan would also be used by the company to scale its Drive-to-Own programme and enable 3,500 Lagos drivers to transition from daily earners into long-term asset owners, business operators and mobility investors.

The partnership strengthens Lagos State’s transportation ecosystem and accelerates the shift toward a structured, technology-enabled and financially bankable mobility sector.

Over the past 10 months, Lagride has rebuilt its entire onboarding and operational system for drivers, known as Lagride Captains.

The platform introduced a performance-led Drive-to-Earn structure supported by weekly and monthly rental models. This system has generated consistent 90-day usage and repayment data across the fleet, allowing UBA and other financial institutions to assess driver performance with accuracy, confidence and transparency.

Eligibility for the programme is based on clearly defined performance thresholds, repayment discipline, safety compliance and service consistency.

Through this approach, Lagride has emerged as the most structured, data-driven and credit-ready mobility platform in Nigeria, setting a new benchmark for bankable driver financing and asset ownership.

EV Infrastructure Expansion

As part of the milestone, Lagride also unveiled an expanded electric vehicle charging facility in Alausa, Lagos, reinforcing its long-term commitment to clean, future-ready mobility.

The expanded infrastructure is designed to support the growing electric vehicle segment within Lagride’s fleet, reduce operational downtime and enable more efficient, sustainable transportation at scale. By pairing driver financing with practical EV infrastructure, Lagride is positioning itself as a mobility platform built not just for today’s Lagos, but for the next generation of urban transport.

“Lagride was created to give Lagos a modern, disciplined and technology-driven mobility system while ensuring that drivers are not left behind.

“The goal is for drivers who we call Captains to become business owners, fleet partners and mobility investors, not just drivers.

“This $100 million partnership with UBA moves thousands of captains closer to owning productive assets, managing multiple cars and building stronger financial futures. It is a major step forward in our commitment to driver prosperity and the future of smart mobility in Lagos,” the chairman of Lagride, Ms Diana Chen, said.

On his part, the chief executive of UBA, Mr Oliver Alawuba, said Lagride represents the kind of transformational, well-governed and data-backed initiative that UBA exists to support across Africa.

Continue Reading

Auto

Police to Resume Tinted Glass Permit Enforcement January 2

Published

on

tinted glass permit

By Aduragbemi Omiyale

The Nigeria Police Force has said it would begin the enforcement of the controversial tinted glass permit despite an ongoing case in the court.

In a statement on Monday night signed by its spokesman, Mr Benjhami Hundeyin, the police said the reason for the resumption of the enforcement was due to insecurity in the country.

The enforcement, the statement noted, will resume on Friday, January 2, 2026, and motorists who require the tinted glass permit have been encouraged to apply through the approved channels and ensure that their vehicles comply with legal procedures.

The police noted that there was not a time the court prevented it from going ahead with the implementation of the tinted glass permit, noting that this was for the “safety of all citizens.”

“It is important to clarify that at no point did the court restrain the Nigeria Police Force from enforcing the provisions of the law regarding the use of tinted glass on vehicles.

“Nonetheless, in the spirit of responsibility, transparency, and public convenience, the Force suspended enforcement to allow motorists ample opportunity to regularise their documentation and complete the registration process without pressure,” parts of the statement today stated.

“Recent trends, however, reveal a disturbing rise in criminal activities perpetrated with the aid of vehicles fitted with unauthorised tinted glass. Some individuals and organised criminal groups have exploited this gap to conceal their identities and facilitate crimes ranging from armed robbery to kidnapping and other violent crimes.

“In view of this, the Nigeria Police Force has found it both necessary and urgent to resume full enforcement as a proactive measure to safeguard our communities.

“Consequently, enforcement of tinted glass permit will resume on January 2, 2026,” it declared.

“The Inspector-General of Police (IGP) Kayode Adeolu Egbetokun, assures the public that the renewed enforcement will be carried out with utmost professionalism, respect for the rights of citizens, and in accordance with extant laws.

“He adds that the Force remains committed to promoting public safety and upholding the rule of law while working collaboratively with all stakeholders to keep Nigeria secure,” the statement added.

Continue Reading

Trending