Beyond ₦300bn Thaw: NCC’s USSD resolution and future of digital finance by Remmy Nweke | Telecoms Clinic@ITREALMS

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Remmy Nweke in this Telecoms Clinic@ITREALMS, analyzes the resolution of the ₦300 billion USSD impasse, exploring how the NCC’s strategic, collaborative regulatory framework has secured the future of Nigeria’s digital financial inclusion landscape.

Four years after:
For nearly four years, the Nigerian digital economy operated under a pervasive shadow; a metaphorical "Sword of Damocles" hanging over the Unstructured Supplementary Service Data (USSD) ecosystem. A staggering debt pile of nearly ₦300 billion, accumulated by Deposit Money Banks (DMBs) in unpaid service fees, threatened to derail the most vital channel for financial inclusion in the country.

But, in a significant turnaround for the telecommunications and banking sectors, this protracted impasse has finally been dismantled. The recent confirmation by the Association of Licensed Telecommunications Operators of Nigeria (ALTON) that the debt has been cleared marks the end of a conflict that once pushed the industry to the precipice of total service withdrawal.