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CBN Orders Banks to Move Services from Telcos Charging for USSD Transactions
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.”
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Interswitch Digitises Nigeria’s Interstate Travel With Ticket Vending Platform
By Modupe Gbadeyanka
Nigeria’s interstate transport ecosystem has been digitalised by the introduction of a ticket vending platform by one of Africa’s leading integrated payments and digital commerce companies, Interswitch.
This comprehensive digital solution was designed to transform ticketing, streamline operations, and enhance service delivery.
At the core of the solution is a secure, token-based system that allows travellers to purchase digital tickets across multiple channels, including web, mobile, and dedicated point-of-sale (POS) devices deployed at transport terminals.
These tokens serve as verifiable digital vouchers, which are validated and redeemed at boarding points, significantly reducing inefficiencies associated with manual ticketing, cash handling, and fragmented sales processes.
It was developed as both an operational management system and a digital marketplace to allow transport operators, particularly small and medium-scale businesses, to digitise their end-to-end processes while connecting to a broader customer base through the Quickteller ecosystem.
With this innovation, operators can seamlessly create and manage routes, oversee terminal activities, track sales, and access real-time performance insights from a single, centralised platform.
It also introduces a marketplace experience that enables travellers to search, compare, and select transport options across multiple operators based on routes, schedules, and pricing. This not only simplifies journey planning but also promotes transparency and choice for commuters.
The platform also supports corporate and institutional users by enabling bulk token purchases, offering a flexible and efficient solution for organisations managing employee or group travel.
In addition, it delivers value to regulators and stakeholders within the transport ecosystem by providing access to structured data and actionable insights that can support oversight, licensing, and consumer protection efforts.
“Transportation remains a critical backbone of Nigeria’s economy, yet much of the sector still operates with fragmented systems and manual processes that limit efficiency and growth.
“With the Ticket Vending Platform, we are introducing a scalable digital infrastructure that empowers transport operators to modernise their operations, expand their reach, and deliver a more seamless experience to travellers.
“Beyond ticketing, this is about creating a connected ecosystem, one that brings together operators, commuters, and regulators on a unified platform, while driving transparency, efficiency, and long-term value across the industry,” the Managing Director for Industry Ecosystems at Interswitch, Ms Chinyere Don-Okhuofu, said.
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FRSC, Brewery Companies Renew Pact to Tackle Drink-Driving
The Federal Road Safety Corps (FRSC) has renewed a strategic partnership with major brewing companies in Nigeria to intensify efforts against drunk driving and improve road safety nationwide.
The renewed Memorandum of Understanding (MoU), signed with members of the Beer Sectoral Group (BSG), extends the collaboration for another five years, with both sides pledging to deepen public awareness, enforcement and community engagement.
FRSC Corps Marshal, Shehu Mohammed, said the partnership underscores the importance of synergy between government and the private sector in addressing road crashes, particularly those linked to alcohol consumption.
He stressed that saving lives on Nigerian roads requires sustained collaboration, adding that the corps would continue to work with industry players to promote responsible behaviour among motorists.
Speaking on behalf of the BSG, Managing Director of Nigerian Breweries Plc and Chairman BSG, Thibaut Boidin, said the renewal reflects the industry’s commitment to sustained collaboration with regulators. He cited previous joint campaigns, including the Don’t Drink and Drive Campaign, as impactful, adding that the next phase would focus on expanding reach and strengthening implementation.
Also speaking, the Managing Director of Guinness Nigeria, Girish Sharma, said the industry remains committed to supporting initiatives that promote safer roads. He noted that while alcoholic beverages are often blamed for road crashes, the real issue lies in irresponsible consumption, particularly drinking and driving.
“We are here to work with you and ensure that this programme grows bigger and delivers real impact. Saving lives is what matters most,” he said.
Similarly, the chief executive of International Breweries Plc, Mr Nicholas Kade, commended the FRSC for its dedication, describing the corps’ efforts as critical to making communities safer. He said the brewing industry would continue to support initiatives that promote responsible drinking and road safety.
The Executive Director of the Beer Sectoral Group, Ms Abiola Laseinde, described the renewal as a milestone in public-private collaboration.
She said the partnership had driven nationwide campaigns against drunk-driving, influenced behaviour and reached millions of Nigerians with road safety messages.
Ms Laseinde added that both parties would scale up interventions in the next five years to further reduce crashes and promote responsible alcohol consumption.
The FRSC and BSG’s partnership has been central to national campaigns discouraging drunk-driving, with stakeholders expressing optimism that the renewed agreement will deliver stronger outcomes.
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NRS Denies Introduction of New Vehicle Tax from July 1
By Modupe Gbadeyanka
The Nigeria Revenue Service (NRS) refuted reports making the rounds on social media that the federal government plans to introduce a new tax on vehicles from July 1, 2026.
Mr Dare Adekambi, who serves as the Special Adviser to the NRS Chairman, Mr Zach Adedeji, and spokesperson for the organisation, said in a statement that the government was not planning to introduce the vehicle tax as claimed.
He described a viral infographic purporting the policy as false and misleading, urging members of the public to disregard it.
Mr Adekambi advised citizens to only rely on information from the NRS, urging them to follow the company its official handles on all social media platforms and its website for accurate information about tax and its activities.
In the infographic, motorists were directed to pay an unspecified vehicle tax rate online or at approved banks and agencies. The website listed as NRS’s was the old one, http://www.firs.gov.ng and not the new http://www.nrs.gov.ng created after it was rebranded.
“The NRS wishes to state categorically that the information did not emanate from the service or any government agency.
“Citizens are, therefore, advised to disregard the fabricated messages designed to mislead the public and instead rely on official government channels for information on government policies,” Mr Adekambi said in the statement.
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