Home Business Telcos Threaten to Withdraw Services to Banks As USSD Debts Hit #200bn 

Telcos Threaten to Withdraw Services to Banks As USSD Debts Hit #200bn 

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Telecommunications operators on Thursday disclosed that the unstructured supplementary service data (USSD) debts owed them by commercial banks have now hit N200 billion.
Speaking on behalf of telecoms operators under the aegis of Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbenga Adebayo, chairman of ALTON, vowed that the banks must pay the debts in total as operators would not hesitate to block debtor banks from accessing the service.

 Adebayo, who spoke during the first telecoms stakeholders’ meeting with Aminu Maid, executive vice-chairman (EVC) of the Nigerian Communications Commission (NCC), in Lagos, said although there had been talks on the issue but no considerable action was taken on the part of the banks.

“In spite of all appeals, meetings and interventions by the ministry of communications, innovation and digital economy, Central Bank of Nigeria (CBN), and NCC, mainly during the last administration, the banks have kept mute over payment,” he said.

“If operators had to shut down their services, bank customers would no longer be able to carry out transactions such as fund transfers through shortcodes, check bank details and account balances, among others, through their mobile phones.”

He lamented that the value of the debt would keep rising based on the foreign exchange challenges in the country, adding that the matter needed to be resolved as fast as possible as the huge debt has hampered further expansion services.

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