CBN: N6.98 USSD flat rate will stabilise payment system – The Central Bank of Nigeria (CBN) has said the harmonisation of all Unstructured Supplementary Service Data (USSD) fees to a single rate of N6.98 will stabilise Nigeria’s payment system.
In a report released yesterday, the apex bank said the exercise, which has the backing of key stakeholders, including the National Communication Commission (NCC) will boost bank customers’ confidence in the payment system, bring more unbanked and underbanked to the financial system and ensure sustainability of the services to e-payment customers.
According to the apex bank, all USSD charges will henceforth be collected directly from customers’bank accounts on behalf of Mobile Network Operators (MNOs) to promote transparency in its administration.
The apex bank said the new plan replaces the per session billing structure, ensuring a much cheaper average cost for customers to enhance financial inclusion adding that the approach is transparent and will ensure the amount remains the same, regardless of the number of sessions per transaction.
Read also: MTN Introduces New Charges for USSD Banking Services
It said the wide acceptance and usage of the USSD shows that it remans the best and fastest available communications technology that delivers mobile financial services to s, low-income customers.
The apex bank said it will continue to engage relevant operators and all stakeholders to promote cheaper, seamless access to mobile and financial services for all Nigerians.
The apex bank said that with the new policy, the disagreements that have for long exists between the MNOs and Deposit Money Banks (DMBs) will be put to rest, while assuring that there will no longer be additional charges on customers for use of the USSD channel.
“The protracted disagreements between DMBs and MNOs concerning the appropriate USSD pricing model for financial transactions has been put to rest,” it said.
The CBN added that the USSD is a critical channel for delivering financial services, particularly for the underserved and/or financially excluded.
The resolution framework for pending debts owed MNOs, which is acceptable to all parties has also adopted a settlement plan for outstanding payments incurred for USSD services, previously rendered by the MNOs, is being worked out by all parties in a bid to ensure that the matter is fully resolved.
“MNOs and DMBs shall discuss and agree on the operational modalities for the implementation of the new USSD pricing framework, including sharing of Application Programme Interface (API) to enable seamless, direct and transparent customer billing. DMBs and MNOs are committed to engaging further on strategies to lower cost and enhance access to financial services,” it said.
The stakeholders said the USSD channel remained optional, as several alternative channels such as mobile apps, internet banking and Automated Teller Machines (ATMs) may be used for financial transactions.
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VIEW POINTWhy FG should consider permanent employment for NPower 2016 beneficiariesPublished 1 week ago on March 14, 2021By Haruna Magaji
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Why FG should consider permanent employment for NPower 2016 beneficiaries – The Federal Government of Nigeria initiative to establish the National Social Investment Program (NSIP) has been commended from time to time and the program has not only yielded the set goals but has directly and indirectly curb unemployment and stabilize social security in a relative manner.
Yes, upon the creation of the Ministry of Humanitarian Affairs, Disaster Management and Social Development, the ministry mandate then captured the NSIP scheme which has NPower as the major program. The ministry is been headed by Hajia Sadiya Umar Farouq, who is the Honourable Minister of the ministry.
In recent time, and truthfully, the 2016 batch of Npower scheme has exhausted their agreed time signed with them back then in 2018, but the political nature of the country failed to favor the federal government from disengaging them then, owing to the general election approaching then, and it will definitely be a political suicide if President Muhammad Buhari shut the door on them by disengaging them.
N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account
Why FG should consider permanent employment for NPower 2016 beneficiaries
When are we then going to put all the stakeholders in one place and feed them the gravity of their disengagement on the social security of the society? And as well made them realize that, the token been given to the beneficiaries as stipend means a lot on the economic activities of their respective society, and serve as the last resort means of life and family sustainability for many of those beneficiaries.
But why do federal government not even seat down and ask how we are in this pitiable situation of unemployment? The NSIP program is having close to 500,000 people, where does the federal government want to offload them to?
What does it cost Federal Government to covert the NTeach to permanent federal government teachers? Is there any meaningful exit package that can make up to the regular salary payment other than a permanency from the Federal government?
Hope the Federal government knows that, giving the beneficiaries permanent job will further reduce crime rates, robbery and some other social vices threaten the peaceful coexistence of our society?
N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account
Why FG should consider permanent employment for NPower 2016 beneficiaries
RELATED TOPICS:NPOWER NEWS
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Haruna MagajiHaruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at – harunamagaji@financialwatchngr.comCONTINUE READINGADVERTISEMENT
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Toyota Camry Tiny-Light=N450,000.
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Toyota Avalon=N550,000
Toyota Rav4 SUV=N800,000.
Toyota Sienna=N850,000.
Toyota 4Runner=N850,000.
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Toyota Yaris=N500.000.
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Toyota Haice Bus=N950,000
Acura MDX =N900,000.
Acura ZDX=N970,000
Acura TL=N850,000.
Honda Pilot=N800,000.
Honda Baby Boy=N650,000.
Honda End of Discusson(EOD)=N550,000.
Honda Odyssey=N800,000.
Honda Accord=N550,000.
Honda CRV=N600,000.
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Infinity Qx4=600,000.
Nissan Murano=N700,000.
Nissan Pathinder=N500,000.
Nissan Altima=N500,000.
Nissan Maxima=N450,000.
Nissan Xterra=N600,000.
Nissan Quest=450,000.
Nissan Amanda=N550,000
Lexus Rx330=N750,000.
Lexus Gx460=N1m.
Lesus Rx300= N650,000
Lexus Rx320=N680,000
Lexus Lx650=N500,000.
LexusRx350=N1.2M
LexusGx470=N850,000.
Ford Escape=N700,000.
Ford Explorer=N8500,000.
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JANET BLESSINGJune 12, 2020 at 6:49 PM
AUCTION AUCTION AUCTION
(07026536478) NIGERIA CUSTOM’s YEARLY AUCTION’s OF IMPOUNDED VEHICLES ARE NOW
FOR SALES,
APPROVED BY THE FEDERAL
GOVERNMENT AT A CHEAPER AND
AFFORDABLE PRICE,IF YOUR CHOICE OF CAR IS NOT LISTED BELOW, INTERESTED BUYERS
SHOULD CONTACT ME ON
(07026536478) FOR PURCHASE AND INQUIRY.!!!PLEASE NOTE!!!
THE NIGERIA CUSTOM ”REPLACEMENT AND RECRUITMENT” FORM IS OUT FOR REGISTRATION!!!
BAGS OF RICE =N10,000
KEG OF OIL=N7,500
CAR FEATURES AND PRICES BELOW
GOLF 1, 2, 3,4 ,5.=N150,000 to=N 500,000
Toyota Camry Big Daddy=N650,000.
Toyota Camry Tiny-Light=N450,000.
Toyota Avensis=N550,000.
Toyota Hilux=N1M
Toyota Avensis=N650,000.
Toyota Camry Muscle=N 600,000. & Spider=N600,000.
Toyota Avalon=N550,000
Toyota Rav4 SUV=N800,000.
Toyota Sienna=N850,000.
Toyota 4Runner=N850,000.
Toyota Tundra=N1.5M
Toyota picnic=N450,000.
Toyota Highlander=N1M.
Toyota Corolla=N550,000.
Toyota Prado=N2M
Toyota LandCruisser=N2.8M.
Toyota Yaris=N500.000.
Toyota Matrix=N450,000.
Toyota Haice Bus=N950,000
Acura MDX =N900,000.
Acura ZDX=N970,000
Acura TL=N850,000.
Honda Pilot=N800,000.
Honda Baby Boy=N650,000.
Honda End of Discusson(EOD)=N550,000.
Honda Odyssey=N800,000.
Honda Accord=N550,000.
Honda CRV=N600,000.
Honda Civic=N500,000.
Infinity Fx35=N1.7m.
Infinity Fx45=N1.2m.
Infinity Qx4=600,000.
Nissan Murano=N700,000.
Nissan Pathinder=N500,000.
Nissan Altima=N500,000.
Nissan Maxima=N450,000.
Nissan Xterra=N600,000.
Nissan Quest=450,000.
Nissan Amanda=N550,000
Lexus Rx330=N750,000.
Lexus Gx460=N1m.
Lesus Rx300= N650,000
Lexus Rx320=N680,000
Lexus Lx650=N500,000.
LexusRx350=N1.2M
LexusGx470=N850,000.
Ford Escape=N700,000.
Ford Explorer=N8500,000.
Land Rover Discovery=N1.9m.
Land Rover Freelander=N1.3
TRUCKS LIKE , VOLVO, MAN AND MERCEDES ARE ALSO AVAILABLE.
, All
VEHICLES ARE IN GOOD
CONDITION, INSTALLMENTAL PAYMENT IS
ALLOWED
WE OFFER DELIVERY TO ALL
36 STATES IN NIGERIA. CONTACT ME ON (07026536478) TO PLACE AN ORDER NOW.
REPLY
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