shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Telecom Operators To Disconnect Banks Over N120bn USSD Debt

Telecom Operators To Disconnect Banks Over N120bn USSD Debt

by sam
May 15, 2023
in Market Square

Telecom Operators

Telecommunications Operators in Nigeria say they have been granted approval by the Nigerian Communications Commission (NCC) to disconnect banks over N120 billion Unstructured Supplementary Service Data (USSD) debt.

This was made known in a statement signed by Mr Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), on Friday in Lagos.

He said that Mobile Network Operators (MNOs) would disconnect banks if they failed to pay the debt owed.

Adebayo said that the approval was granted because in spite of the multi-party stakeholder efforts to resolve the situation and prevent any impact on services, banks continued to incur greater debt, without making the commensurate payments.

He said members of the public would recall that MNOs and banks 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.

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

“However, the Minister of Communication and Digital Economy, Prof. Isa Pantami, intervened and asked the MNOs not to disconnect banks as the action will negatively impact on the digital and financial inclusion policy of the Federal Government.

“Unfortunately, the patriotic intervention of the minister and the NCC have been taken for granted by the banks, as two years after, the banks have failed to sign a final agreement,” he said.

Adebayo noted that It was pertinent to note that the contract between MNOs and banks on the use of USSDs for banking transactions was strictly commercial and MNOs were at liberty to withdraw the services if the transaction was unprofitable to them.

He noted that MNOs have invested billions of naira in expanding their systems to accommodate the USSD needs of banks over the years.

Adebayo said this had resulted in more Nigerians having access to banking services in addition to enabling banks to trim down costs by requiring less branches to service their growing customers.

He said that unfortunately, MNOs were not getting paid for their services and the debt that stood at N42 billion in 2021 had now risen to over N120 billion.

“It is obvious that the level of debt is unsustainable given the time or value of the huge cost of the continuous upgrade, operation of the systems and infrastructure dedicated to supporting USSD transactions of banks.

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

Follow us on Facebook/ twitter


Related Posts

NGX Closes Week  With  Market Capitalization Of N30.3 Trillion 

NGX Market Soars as Trading Volume Jumps 98%, Investors Gain N770bn

June 16, 2025
Ondo Govt. Cracks Down On Cocoa Adulteration

Ondo Govt. Cracks Down On Cocoa Adulteration

June 16, 2025
FG’s Reforms To Crash Food Prices – Minister

FG’s Reforms To Crash Food Prices – Minister

June 16, 2025
Tomato Farmers Attribute Price Hike To Sallah, Low Production

Tomato Farmers Attribute Price Hike To Sallah, Low Production

June 16, 2025

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition