Ebeh Christopher
The Telcos have approached the Nigerian Communications Commission (NCC) for approval to block the USSD Services of Banks in Nigeria due to a USSD Dept of N250 billion owed by Nigerian banks to Telecom operators
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) revealed that telecommunication companies are pushing for regulatory approval from the Nigerian Communications Commission (NCC) to withdraw Unstructured Supplementary Service Data services (USSD) of Nigerian banks.
ALTON also revealed that Nigerian banks have owed over N250 billion for services provided in the last six years.
USSD service provides airtime and subscription services and has been adopted in the banking sector because it does not require an internet connection has can be access with any phone at all hereby raise its reach amongst Customers
Gbenga Adebayo, the chairman of ALTON, revealed that the debt payments have been a concern for quite some time now, according to reports.
He added that the debt has increased over time, from N80 billion in November 2022 to N250 billion as at today and has called on banks to address the outstanding debt.
He Said and We Quote;
Normally, this would be a straightforward commercial transaction, but it has attracted political interest. Under regular circumstances, the contract contains clauses that would allow both parties to prepare and take action.
However, with the political attention that has developed over time, operators now need regulatory approval before proceeding.
The fact is, this debt must be paid. It has been delayed for too long, with ongoing discussions and questions surrounding it. What’s wrong is wrong, and there’s no other way to put it. This debt has been elevated and has lingered for too long.
We Hope the Issue is Resolved Soon and Customers don’t end up experiencing Collateral Damage as a result of the Potential Disconnection of Bank USSD Services.