USSD Charge Scrapped As Ecobank’s MD Challenges Other Banks & Telcos To Follow

Mr. Patrick Akinwuntan, the Managing Director, Ecobank Nigeria said Ecobank in its bid to promote and enhance financial inclusion would scrap the USSD charges for its customers henceforth.
He also charged other banks to follow suit and added that if there are no charges, Nigeria could attain 90 percent financial inclusion.
Akinwuntan noted that a strong collaboration would help develop skilled manpower and deliver cutting edge solutions for sustainable growth and the realisation of all -inclusive growth.
He said there was the need for continuous advocacy on adaptation of platforms and gender balance to attract more participation from the under-served
“With strong collaboration, it is possible to offer to any Nigerian, zero cost for using financial services to lift Nigerians out of poverty.
“This will help to bring all Nigerians into the financial system to add value.
” The CBN is targeting 80 per cent in fusion by 2020 and latest figure showed that we are currently in 62-65 per cent. But the most pervasive gadget to achieve inclusion is a smart phone.
“With zero charges on USSD, 90 per cent inclusion by 2020 is possible.
“Also, data protection is absolutely key to instilling confidence in the system,” he said.
Also speaking, the Deputy Governor, Financial Systems Stability, Central Bank of Nigeria, Mrs Aishah Ahmad, tasked fintech firms to be cautions in carrying out their innovative services.

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