Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.

The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.

They also ordered that post-API debts be settled before December 31, 2024.

The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”

The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.

The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.

“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.

“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.

“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”

According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.

CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.

The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.

This implies that any session lasting less than ten seconds will not be billable.

The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”

Nigerian Communications Commission (NCC) has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the Application-to-Person messaging sector.

The telecom regulator made this announcement in a statement.

The proposed framework, which was introduced during a virtual Stakeholders’ Forum, is said to be a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.

The draft framework, presented by Aminu Maida, executive vice chairman, NCC, who was represented by Chizua Whyte, NCC’s acting head of legal and regulatory services, seeks to regulate the A2P messaging space.

The A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.

However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.

“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.

The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.

“This forum marks a pivotal step towards addressing these challenges. We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”

The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.

In today’s fast-paced business world, writing a comprehensive business plan can feel overwhelming for entrepreneurs. However, with the advancement of Artificial Intelligence (AI), this process is becoming more efficient and accessible. This guide shows how to use AI tools to create a business plan for your idea.

Think of AI as your digital assistant, speeding up the first draft so you have more time to make it better. AI gives you a structure, but your own ideas and understanding of your business makes the plan unique.

Embrace AI in Business Planning – Before you begin, you should know what goes into a business plan: a summary of your business, details about your company and offerings, and information about your market and competitors. You may also consider creating plans for your business sales, management, operations, and finances.

Gather all your business details first. This makes it easier for AI to help you turn them into a plan.

Feeding Information to AI – Start by providing a general overview of your business, including its name, target market, products or services, and financial projections. GoDaddy is sharing a prompt template below that can be used to provide information:

“I’m developing a business plan for my company, [company name], a [industry] startup offering [product/service]. Please accept the information below about my company as a basis for developing a strong business plan.”

Creating Sections with AI Help – Breaking your business plan into sections and using specific prompts for each can streamline the process. AI can generate initial drafts for each part, which you can then review and edit. Here are some prompts to help guide you:

1. Summary and Company Description:

• “As a successful entrepreneur and seasoned strategist, draft an enticing executive summary and company description for [company name] in the [industry] sector.”

2. Products and Services:

•  “As an innovative product developer, provide a comprehensive description of [product/service] offered by my company.”

3. Market Analysis:

•  “As a market analyst, outline a detailed market analysis for [company name].”

4. Competitive Analysis:

•  “Compile a concise competitive analysis for [company name], highlighting the strengths and weaknesses of key competitors.”

5. Marketing and Sales Plan:

•  “Create a thorough sales and marketing plan for [company name], including a detailed growth strategy.”

6. Value Proposition:

•  “Assume the perspective of a potential customer and identify the unique selling proposition of [company name].”

7. Ownership and Management Plan:

•  “Outline the optimal structure, ownership, and management roles for [company name].”

8. Operating Plan:

•  “Craft an efficient operating plan for [company name], detailing infrastructure and risk management.”

9. Financial Plan:

•  “Develop a comprehensive financial overview and funding request for [company name], including income statements and sales forecasts.”

10. Extra Information:

•  This is where you can add any extra details like research or visuals.

Finalizing Your Plan – Once you have drafts for each part, it’s time to make it all fit together nicely. Your business plan should clearly show what your business is about and its path to success.

Getting Feedback from AI – After refining your draft, ask AI to check for any missing parts, mistakes or inconsistencies. This is a good time for AI to help create a summary, mission statement, vision, values, and value proposition to ensure alignment with your business goals.

Make a One-Page Plan – Lastly, create a simple one-page version of your business plan. It should include all the important points and be easy to understand. This step ensures clarity and focus, making it easier to communicate your business strategy to stakeholders. Remember, while AI helps a lot, it does not replace the ingenuity and oversight of human input to help ensure your unique business ideas are being reflected in your plan.

AI can be a helpful tool for creating and growing your business’ digital presence.  With GoDaddy Airo, an AI powered experience, you can embrace AI to streamline your business planning and operations, allowing you more time to focus on turning your entrepreneurial dreams into reality.