Guaranty Trust Bank (GTBank) will begin deducting N6.98 fees for Unstructured Supplementary Service Data (USSD) transactions from customers’ airtime balances, rather than bank accounts, starting today, June 18, 2025. The bank notified customers via a message, aligning with a Nigerian Communications Commission (NCC) directive to resolve longstanding disputes between banks and telecom operators over unpaid USSD charges, estimated at N250 billion by 2024.
Industry Shift to End-User Billing
The NCC, in collaboration with the Central Bank of Nigeria (CBN), mandated Deposit Money Banks to adopt an End-User Billing model, requiring USSD fees to be deducted directly from airtime after clearing historical debts. Previously, banks charged customers’ accounts while delaying payments to telecoms, who bore infrastructure costs. The new model prompts users to confirm transactions, deducting fees only if sufficient airtime is available, ensuring transparency.
Resolving Telecom-Bank Tensions
The change addresses telecom operators’ claims that banks profited from USSD services without timely remittances, leading to significant debts. The NCC’s directive aims to streamline payments and foster fairness in the ecosystem, supporting Nigeria’s financial services sector stability.
