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.