This means the telcom company you subscribe to will deduct N12 for every minute you spend when you use a code like *101# to access banking services.
Banking services were introduced on USSD channels to ensure easier access to banking services.
Before now, telcos charged customers per USSD session.
This charge differed across networks with the highest being N20 per session.
However, this new charge would mean that customers will be charged N12 for every minute spent on the USSD channel.
Already, the development has elicited reactions from customers and they have taken to social media to express how they feel on social media.
Some customers went as far as sending messages to their banks for further information on the charges.
Some banks have responded saying their charges remain unchanged.
“Our fees and charges on the USSD service remain unchanged and all our services are available,” Access Bank’s Twitter account replied a customer.
CBN has opposed MTN’s planned charges for USSD transactions
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