Saturday , July 2 2022

Pantami Gives Update on Recent USSD Fallout between MTN and Banks

Pantami Gives Update on Recent USSD Fallout between MTN and Banks

Nigeria’s Minister of Communications and Digital Economy, Isa Ali Pantami, has reacted to the fallout between Mobile Telephone Network (MTN) and some commercial banks in Nigeria.

Reports had it earlier that some commercial banks disconnected the network service providers from banking channels including the Unstructured Supplementary Service Data (USSD) and banking apps.

Gistlover understands that there was outrage by MTN customers earlier over being unable to complete financial transactions using USSD and other banking channels like the bank apps.

MTN, subsequently advised their customers to recharge their lines using the traditional paper recharge cards. Reports alleged that the development was not unconnected to the N42bn debt owed mobile operators by banks.

However, Dr Pantami in a tweet on Friday evening, April 2 confirmed that the services will be restored to Nigerian citizens soon as both parties have reached an agreement.

He wrote, “On the fallout between @MTNNG and some banks on USSD services today, I engaged with both regulators, the Governor of @cenbank and EVC @NgComCommission.

“We have reached an advance stage of resolving the issues, for the services to be restored to our citizens. Many thanks!”

See the tweet below:

Two weeks back, Gistlover reported that bank customers will now pay a flat fee of N6.98 for each transaction on the Unstructured Supplementary Service Data (USSD) service.

A joint statement released by the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) on Tuesday said the Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) agreed to the new charge.

The statement noted that the new charges replace the current billing structure, adding that the new fee takes effect from March 16, 2021.

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