Responsive Ad Slot

Exchange Cryptocurrencies Instantly



Telcos Confirm Withdrawal Of USSD Services To Banks

Saturday 13 May 2023

Telcom companies in Nigeria, under the umbrella of Association of Licensed Telecom Operators in Nigeria (ALTON) have announced that they’ve withdrawn USSD services it provides to Deposit Money Banks (DMBs) over N120b debt.

This was disclosed in a statement issued on Friday, May 12, and signed by the Chairman and Head of Operations of ALTON, Gbenga Adebayo and Gbolahan Awonuga,

They said the approval was granted because despite multi-party stakeholder efforts to resolve the situation and prevent any impact on services, banks have continued to incur greater and greater debt, without making the commensurate payments.

READ ALSO: Illegal Fines: NBC Set To Appeal Court Judgement

The statement read, “Every time some progress is made, the Deposit Money Banks, DMBs come up with reasons to take stakeholders several steps back, in this matter.

”Members of the public will recall that Mobile Network Operators, MNOs and DMBs have had protracted disagreements concerning the appropriate USSD pricing model for financial transactions, transparency of charges, mode of collection and liability for payment of the outstanding and continuous service fees due to the MNOs (which currently stands at over N120 Billion).

“Due to the inability of MNOs and DMBs to reach an agreement on the issues, MNOs in 2021 sought to disconnect DMBs due to the unpaid debts which stood at N42 Billion as of that time.

”It is now obvious that the level of debt is unsustainable given the time/value huge cost of the continuous upgrade and operation of the systems and infrastructure dedicated to supporting USSD transactions of DMBs.

“In view of the foregoing, unless DBMs meet their debt obligations, MNOs will disconnect all banks indebted to them for USSD services rendered.”

Adblock test (Why?)

via: Information Nigeria

No comments

Post a Comment

Don't Miss