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NCC Directs Banks to Deduct USSD Charges From User’s Mobile Airtime

By
Ojukwu Emmanuel
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0

The Nigerian Communications Commission (NCC) has mandated commercial banks to shift Unstructured Supplementary Service Data (USSD) transaction charges from bank account deductions to direct billing from users’ mobile airtime, effective June 3, 2025.

Under the new structure, each USSD session will incur an N6.98 charge per 120 seconds, deducted by mobile network operators (MNOs) from users’ airtime balances.

United Bank For Africa (UBA), noted that customers will receive a consent prompt at the start of each session, with charges applied upon confirmation and subject to service availability. Customers can opt out of USSD banking if they prefer not to use the new model.

Part of the bank’s statement reads,

“In line with the NCC directive, effective June 3, 2025, USSD banking charges will no longer be deducted from your bank account”. The bank further emphasized that users can discontinue USSD services at any time.

USSD (Unstructured Supplementary Service Data) is a critical banking channel in Nigeria due to its accessibility, simplicity, and effectiveness in bridging the financial inclusion gap. It works on any mobile phone, including basic feature phones, without requiring internet access or a smartphone. With over 80% of Nigerians using mobile phones but only a fraction owning smartphones or having reliable internet, USSD enables millions, especially in rural areas, to access banking services.

Notably, USSD is a cornerstone for Nigeria’s financial inclusion goals, targeting 80% inclusion. It serves underserved and unbanked populations who lack access to traditional banking infrastructure. In 2022, over 516 million USSD transactions worth about 4 trillion Naira were recorded, showcasing its massive adoption.

However, while USSD remains vital for financial inclusion, The ongoing tensions between Nigerian banks and telecom operators over Unstructured Supplementary Service Data (USSD) debts, amounting to over N250 billion as of 2024, have created significant friction, threatening the continuity of a critical banking channel in Nigeria.

The conflict began around 2019 when banks started incurring charges for using USSD services provided by telecom operators. By 2021, the debt stood at N42 billion, rising to N120 billion by 2023 and escalating to over N250 billion by 2024 due to banks’ failure to consistently remit fees to telecom operators.

The core issue revolves around the definition of a “transaction.” Banks argue they should only pay for completed transactions, while telecoms insist on charging for every USSD session initiated, including failed ones. In 2021, the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) set a fee of N6.98 per transaction, deducted from customers’ accounts, to resolve this, but disputes persist over implementation.

Telecom operators, under the Association of Licensed Telecommunications Operators of Nigeria (ALTON), have repeatedly sought NCC approval to disconnect banks’ USSD services due to unpaid debts. In October 2024, telecoms pushed for regulatory approval to withdraw services, citing the unsustainable N250 billion debt.

In January 2025, the NCC issued a directive to nine banks—Fidelity, First City Monument, Jaiz, Polaris, Sterling, United Bank for Africa, Unity, Wema, and Zenith—to settle debts by January 27, 2025, or face disconnection of their USSD codes.

This followed a joint CBN-NCC memo in December 2024 outlining a three-phase payment plan: 60% of pre-API invoices by January 2, 2025; full payment by July 2, 2025; and 85% of post-API invoices by December 31, 2025.

By February 2025, banks made significant progress in clearing debts, averting immediate disruptions. ALTON’s chairman, Gbenga Adebayo, confirmed the situation was de-escalated, but the underlying issues remain unresolved, with legal and technical complications potentially prolonging the dispute.

The NCC’s directive to deduct USSD charges from mobile airtime, effective June 3, 2025, addresses the N250 billion debt dispute by shifting costs to consumers, ensuring telecoms receive direct payments, and reducing banks’ financial burden.

While this stabilizes the USSD ecosystem in the short term, it risks reducing accessibility for low-income users, potentially undermining financial inclusion.

U.S. Extends Tariffs On GPUs And Select Chinese Goods

By
Paul Ugbede Godwin
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0

The U.S. has extended the tariff pause on select Chinese goods, including GPUs, motherboards, and solar panels, until August 31, 2025, as part of Section 301 exemptions. This follows a 90-day extension from the previous deadline of August 14, 2025, announced by the Office of the U.S. Trade Representative The pause aims to support ongoing trade negotiations, with a call between U.S. and Chinese counterparts expected this week to discuss trade terms, though no specific date has been confirmed.

This temporary relief stems from a May 12, 2025, agreement reducing U.S. tariffs on Chinese goods from 145% to 30% and Chinese tariffs on U.S. goods from 125% to 10% for 90 days, intended to facilitate a longer-term deal. However, tensions persist, with China accusing the U.S. of violating the truce through actions like AI chip export controls and restrictions on chip design software sales.

The tariff pause until August 31, 2025, on goods like GPUs, motherboards, and solar panels reduces costs for U.S. importers and consumers, potentially stabilizing prices for electronics and renewable energy components. This could boost sectors like tech and clean energy, where these goods are critical. The extension provides temporary relief for Chinese manufacturers, maintaining their access to the U.S. market without the burden of high tariffs, potentially stabilizing their revenue streams.

The pause mitigates disruptions in global supply chains, particularly for tech and solar industries, which rely heavily on Chinese components. However, the short-term nature of the extension (until August 31, 2025) creates uncertainty for long-term planning. The expected U.S.-China call this week signals ongoing efforts to negotiate a longer-term trade agreement. The tariff pause reflects a mutual interest in de-escalating trade tensions, following the May 12, 2025, agreement that reduced tariffs (U.S. from 145% to 30%, China from 125% to 10%) for 90 days.

Success in these talks could lead to a more stable trade environment, but failure risks reimposing high tariffs, escalating costs, and disrupting markets. The pause is a pragmatic move to buy time for diplomacy, but underlying tensions—such as U.S. restrictions on AI chips and chip design software—could undermine trust. China’s accusations of U.S. truce violations highlight the fragility of the détente.

The extension may signal U.S. willingness to avoid immediate escalation while addressing domestic pressures to protect industries and national security. Some U.S. policymakers and industries advocate for tariffs to protect domestic manufacturing, reduce reliance on China, and address national security concerns (e.g., tech supply chains). They view the pause as a temporary concession that risks weakening leverage.

U.S. tech firms, renewable energy companies, and consumers favor the pause, as tariffs increase costs and disrupt supply chains. They argue for open trade to maintain competitiveness and affordability. China sees the pause as an opportunity to stabilize trade but is wary of U.S. actions like export controls, which it perceives as breaches of good faith. Retaliatory measures, like restricting rare earth exports, remain a risk if talks falter.

China aims to maintain its export market share while countering U.S. restrictions by boosting domestic tech capabilities (e.g., chip production). U.S. allies like the EU and Japan are caught between supporting U.S. efforts to counter China and maintaining their own trade ties with Beijing. The pause may ease pressure on global markets but doesn’t resolve the broader U.S.-China rivalry.

Countries reliant on affordable Chinese goods benefit from the pause, but prolonged uncertainty could disrupt their access to critical imports. If the U.S.-China call this week fails to yield progress, tariffs could snap back, raising costs and reigniting trade war fears. China’s potential retaliation (e.g., export bans on critical materials) could further strain global markets.

Successful negotiations could pave the way for a broader trade deal, reducing tariffs long-term and fostering stability in tech and renewable energy sectors. The divide reflects competing economic, strategic, and geopolitical priorities, with the tariff pause serving as a temporary bridge but not a resolution to deep-seated tensions.

Strategies for Account Planning: A Guide

By
TI Partners
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0
Account managers making plans for a client's account.

In the dynamic landscape of sales, account planning emerges as a cornerstone strategy for maintaining and growing client relationships. This forward-thinking approach ensures businesses consistently align their objectives with the needs and potential of key accounts. For sales teams, it’s essential to master this aspect of strategic planning for sustaining success and outshining competitors. If you’re ready to optimize your business’s approach to account management, this article sheds light on how to effectively design and implement these strategies. Below, we delve into strategies for account planning and offer actionable insights to perfect your methods.

Understanding the Essentials of Account Planning

Account planning is an in-depth process focused on understanding client needs and mapping out a long-term engagement strategy. At its core lies the comprehensive analysis of client information, which provides invaluable context for all subsequent planning stages. Sales professionals must become astute observers, delving into a client’s business model, goals, and challenges to cultivate a profound comprehension of their operational ecosystem.

This understanding forms the bedrock upon which tailored strategies and solutions are built. It involves more than scratching the surface; it requires salespeople to continually ask probing questions, reassess assumptions, and stay abreast of industry movements that may affect their clients. Furthermore, maintaining a proactive stance toward account planning can preempt market shifts and keep your strategies agile and adaptive.

Key to effective account planning is the ability to synthesize insights from various sources. Teams should leverage these insights to prioritize activities, focus their efforts on high-value interactions, and forecast outcomes more precisely. By harmonizing client insights with a clear organizational vision, businesses can craft a nuanced and impactful account strategy.

Crafting a Comprehensive Account Profile

A comprehensive account profile serves as the blueprint for customized account strategies. It’s a detailed dossier that encapsulates everything from a client’s market positioning to their preferred communication style. This profile is a living document, updated regularly to reflect any shifts in the client’s world that may present new opportunities or risks to the business relationship.

Creating this profile begins with data collection—financial reports, customer feedback, and transaction history together paint a revealing picture of client health and potential. The analytical process that follows should dissect this data to reveal trends, preferences, and areas of unique competitive advantage or concern. Accuracy and depth are paramount here to ensure the resulting profile is a reliable tool for decision-making.

Within each profile, it’s beneficial to identify key stakeholders and influencers who may impact decision-making processes. Understanding their priorities, individual challenges, and decision-making criteria is essential for crafting messages that resonate and cultivating relationships that matter. This level of granularity ensures the entire sales team can operate in unison and tailor their approach to engage each stakeholder effectively.

Utilizing Technology To Enhance Account Planning Strategies

An account manager reviewing plans with a client.

Technology is playing an increasingly pivotal role in augmenting account planning efforts. With the aid of sophisticated Customer Relationship Management (CRM) systems, sales teams can streamline data storage, access real-time analytics, and automate routine tasks, freeing them to focus on strategy and client interaction. These platforms also facilitate greater consistency and collaboration among team members, who can share updates and insights seamlessly.

Predictive analytics is another game-changer in account planning, enabling sales professionals to forecast trends and behaviors with a higher degree of accuracy. By leveraging data science, teams can identify potential opportunities and risks before they fully emerge, positioning themselves strategically to take proactive actions that strengthen client relationships.

Artificial Intelligence (AI) is transforming the sales landscape by providing personalized recommendations and insights at scale. AI tools can analyze vast amounts of data to suggest next steps, highlight client sentiment shifts, and even predict the optimal timing for outreach efforts. This level of support can significantly sharpen the focus and effectiveness of account strategies.

Altogether, the intricate process of account planning calls for a blend of thorough understanding, strategic goal setting, and thoughtful navigation of potential challenges. When combined with the leverage of cutting-edge technology, businesses can expect to forge deeper relationships with accounts, resulting in sustained growth and competitive advantage. By adhering to these strategic pillars and staying agile, sales teams can deliver remarkable value to their clients and their own organizations alike.

The Ethereum Foundation Shift To “Protocol” Strengthens Its Focus On Scalability and UX

By
Paul Ugbede Godwin
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0

The Ethereum Foundation recently announced a strategic restructuring, rebranding its Protocol R&D team to simply “Protocol.” This shift focuses on three key goals: scaling Layer 1 (L1), enhancing Layer 2 (L2) blob capacity, and improving user experience (UX). The move includes layoffs to streamline operations and boost efficiency, with Tim Beiko and Alex Stokes taking lead roles. This aims to address community concerns, such as EIP-7702 vulnerabilities, and regain trust while pushing Ethereum’s core innovation forward.

Recent market trends show Ethereum ETFs performing strongly, with notable inflows in late 2024. For instance, on November 29, 2024, Ether ETFs recorded $332.9 million in daily inflows, outpacing Bitcoin ETFs, driven by BlackRock’s iShares Ethereum Trust (ETHA). Earlier, on December 5, 2024, Ether ETFs saw their best single-day inflow of $428.5 million, surpassing $1 billion in total inflows since their July 2024 launch. However, by March 2025, Ethereum ETFs faced outflows, with a net $102.9 million exiting in the week ending March 21, 2025, led by BlackRock’s ETHA.

In contrast, Bitcoin ETFs have experienced outflows in 2025. For example, on May 30, 2025, BlackRock’s iShares Bitcoin Trust (IBIT) saw a record $430.8 million outflow, ending a 31-day inflow streak, with total Bitcoin ETF outflows reaching $616.1 million that day. Earlier, in February 2025, Bitcoin ETFs recorded a six-day outflow streak totaling over $2 billion, with a peak single-day outflow of $937.7 million. Despite occasional inflows, such as $744.4 million in the week ending March 21, 2025, Bitcoin ETFs have faced consistent selling pressure amid market volatility and macroeconomic uncertainties like trade tensions and recession fears.

The contrasting trends suggest growing confidence in Ethereum’s ecosystem, possibly tied to the Foundation’s strategic shift, while Bitcoin ETFs face challenges from market dynamics. The Ethereum Foundation’s restructuring into the “Protocol” team, with a focus on scaling Layer 1 (L1), enhancing Layer 2 (L2) blob capacity, and improving user experience (UX), carries significant implications for Ethereum’s ecosystem and the broader crypto market. The shift aims to optimize Ethereum’s core protocol development by reducing operational overhead through layoffs and focusing resources on high-impact areas.

This could accelerate technical upgrades like the Pectra upgrade, enhancing scalability and reducing transaction costs. Improved efficiency may strengthen Ethereum’s competitive edge against other layer-1 blockchains like Solana or Cardano. By addressing community concerns, such as vulnerabilities in EIP-7702, the Foundation seeks to rebuild trust and foster greater developer and user confidence, potentially increasing adoption of Ethereum-based decentralized applications (dApps). Prioritizing L2 blob capacity aligns with Ethereum’s rollup-centric roadmap, aiming to offload transaction processing to L2 solutions like Arbitrum and Optimism. This could lower gas fees and improve transaction throughput, making Ethereum more attractive for DeFi, NFTs, and other dApps, which may drive institutional and retail investment.

The restructuring signals a proactive approach to addressing Ethereum’s scalability and UX challenges, potentially boosting investor confidence. The focus on regulatory clarity and Ethereum’s proof-of-stake (PoS) mechanism could make it more appealing to institutional investors compared to Bitcoin, which relies on energy-intensive proof-of-work (PoW). This aligns with Ethereum ETFs’ recent inflows, reflecting growing institutional interest in Ethereum’s ecosystem. The strategic shift could fuel speculation about Ethereum surpassing Bitcoin in market capitalization, a scenario dubbed “the flippening.” Increased institutional investment via ETFs and Ethereum’s utility in DeFi and dApps could drive its market cap closer to Bitcoin’s, especially if Bitcoin ETF outflows persist.

The recent divergence in ETF flows—Ethereum ETFs seeing inflows while Bitcoin ETFs face outflows—highlights shifting investor preferences and market dynamics. Posts on X and market data suggest Ethereum ETFs have seen consistent inflows, with a reported 11-day streak as of early June 2025. This reflects institutional confidence in Ethereum’s technological advancements, such as its PoS system and dApp ecosystem, which offer diversification benefits and lower correlation with traditional assets. For example, BlackRock’s iShares Ethereum Trust (ETHA) saw $66.04 million in inflows in the week ending May 16, 2025.

Bitcoin ETFs have experienced outflows, with BlackRock’s iShares Bitcoin Trust (IBIT) recording a $430.8 million outflow on May 30, 2025, and total Bitcoin ETF outflows reaching $616.1 million that day. This suggests profit-taking or a shift to other assets like Ethereum or altcoins amid market volatility and macroeconomic concerns, such as trade tensions and recession fears. Ethereum’s role as a platform for smart contracts, DeFi, and NFTs makes it attractive for investors seeking exposure to blockchain innovation. Its PoS mechanism is more energy-efficient than Bitcoin’s PoW, aligning with ESG (environmental, social, governance) investment trends.

However, Ethereum ETFs do not offer staking rewards, which may limit their appeal compared to direct ETH ownership. Bitcoin remains a “store of value” akin to digital gold, appealing to risk-averse investors. However, its mature ETF market and higher volatility in 2025 have led to profit-taking, with institutional investors rotating capital to Ethereum or other assets. Bitcoin’s lack of utility beyond a currency alternative may cap its growth compared to Ethereum’s multifaceted ecosystem.

Ethereum’s ETF inflows are partly driven by a clearer regulatory outlook, as the SEC has not classified ETH as a security, unlike some concerns raised in early 2024. This contrasts with Bitcoin, which faces less regulatory scrutiny but is more sensitive to macroeconomic shifts. Bitcoin ETF outflows may reflect a “sell-the-news” reaction after Bitcoin’s price surged past $100,000 in December 2024, prompting investors to lock in gains. Meanwhile, Ethereum’s price, down 47% year-to-date as of May 2025, may be seen as undervalued, attracting bargain hunters.

The inflow-outflow divide suggests a potential shift in crypto dominance. Ethereum’s growing institutional backing could reduce Bitcoin’s market share, as seen in posts on X noting a decline in Bitcoin dominance due to ETH’s rally. Increased liquidity from Ethereum ETFs could stabilize ETH prices and boost on-chain activity, while Bitcoin ETF outflows may lead to short-term price consolidation. However, Bitcoin’s $122.67 billion in ETF net assets as of May 16, 2025, dwarfs Ethereum’s, indicating BTC’s entrenched institutional presence.

Ethereum’s ETF inflows and the Foundation’s strategic shift signal deeper institutional integration, potentially accelerating mainstream crypto adoption. Bitcoin, while still dominant, may face competition as Ethereum’s utility and ESG alignment attract more capital. Bitcoin ETF outflows could increase short-term price volatility, as seen in X posts noting “choppy price action.” Ethereum’s inflows may cushion its price against broader market downturns, though its 47% YTD decline suggests risks remain.

Ethereum ETFs offer investors exposure to blockchain innovation, complementing Bitcoin’s role as a hedge against fiat currency. This divide encourages diversified crypto portfolios, with Ethereum appealing to growth-oriented investors and Bitcoin to those seeking stability. Ethereum’s regulatory clarity could set a precedent for other altcoin ETFs, while Bitcoin’s established ETF market may face challenges from evolving regulations or market saturation.

The Ethereum Foundation’s shift to “Protocol” strengthens its focus on scalability and UX, potentially driving adoption and supporting ETF inflows. The divide in ETF trends—Ethereum’s inflows versus Bitcoin’s outflows—reflects shifting investor priorities, with Ethereum gaining traction for its technological versatility and Bitcoin facing profit-taking after a strong run. This dynamic could reshape crypto market dominance, with Ethereum closing the gap on Bitcoin if institutional interest persists.

Welcome Enugu State Internal Revenue Service to Tekedia Mini-MBA

By
Ndubuisi Ekekwe
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0

I am super excited to welcome Enugu State Internal Revenue Service to the 17th edition of Tekedia Mini-MBA which begins on Monday, June 9, 2025. Led by Emmanuel Ekene Nnamani, FCA, FCTI, the Executive Chairman, the Enugu State Internal Revenue Service (ESIRS) is the government agency in Enugu State, Nigeria, responsible for collecting, accounting for, and reporting all revenues due to the state government. It’s the primary agency for generating the state’s Internally Generated Revenue (IGR).

For us at Tekedia Institute, this is amazing as we are going to have an opportunity to co-learn with many professionals in this organization over the next 12 weeks.

To all the organizations joining us, I want to Welcome all. We’re honoured for this opportunity to serve in this capacity. Tekedia Institute has one product and that is Knowledge. And with Knowledge, the future is built.

To all the young people coming from Enugu IRS, Welcome to Tekedia Mini-MBA. We will meet in class, and I am confident that when we are done, you will have deepended capacities to advance the IRS, the State and its people. Thanks for joining us.

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