USSD: Nigerians lament multiple bank charges

Nigerians on social media have lamented the payment of multiple bank charges, especially with Tuesday’s announcement by the Central Bank of Nigeria that effective immediately, Nigerians using the Unstructured Supplementary Service Data services will now be charged N6.98 for every transaction.

The announcement has attracted cries from Nigerians who are already burdened with several bank charges.

Lamenting the new charges, a tweep, @zeezis, wrote: “CBN imposes ₦7 fee on every USSD transaction. This Nigerian government will always find every possible means to extort its citizens. At this point, only God can save us.”

Pointing to the fact that majority of those who use USSD services may be unaware of the development, another Twitter user, @dimejey, stated, “N6.98 on every USSD transfer? Come to think of it, majority of the people that use USSD are the ones that have no access to smart phones. Sad thing is they might never know about the new charges.”

@first_ladyship also drew attention to the already depressing economic statistics in the country. “23.18 million Nigerians are unemployed — NBS. Inflation hits 17.33%, highest in 4 years. CBN imposes N7 USSD transaction fee on Nigerians. Stats coming out from Nigeria every day, will send the faint-hearted into coma,” the user wrote.

@novieverest stated, “These guys don’t care about Nigerians. The telecommunication companies complained of not being paid by banks, money that Nigerians have been paying and banks have been posting excess annual profit. What does CBN do? Ask us to pay extra to cover for money owed to the companies.”

Also, Kamaldeen_O_Jimoh on Instagram wrote, “The CBN governor is obviously oblivious of what is happening to average Nigerians in terms of the burden of various bank charges for services rendered by DMBs (Deposit Money Banks).

“You people are giving me reason to stop wasting my time praying for this country. Why are all your policies anti-people? The masses would have to start paying for debts they never incurred,” a Facebook user, Emmanuel Lawrence commented.

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