The Central Bank of Nigeria (CBN) has released a draft regulation on USSD secuirty
The draft aims to set an appropriate standard for USSD-based financial services. In order to promote financial integrity, CBN calls for stronger authentication mechanism for service providers and customers with better encryption.
Relevant financial institutions will be required to provide dispute resolution guide lines.
CBN specifies the relevant institutions as banks, payment service providers, mobile money operators, mobile network operators, and customers.