News

USSD: Telcos set to disconnect banks over N42bn debt

Telecommunications operators in the country have said they would be withdrawing the Unstructured Supplementary Service Data (USSD) service from banks with effect from Monday, March 15. If implemented, bank customers in the country would not be able to use the various USSD codes of banks for financial transactions. Speaking through their umbrella body, the Association of Licensed Telecommunications Operators of Nigeria (ALTON), the telcos said the withdrawal of the service became inevitable as the banks have refused to pay their debts running into over N42 billion, even after the government’s intervention

. ALTON said in a statement released yesterday and signed by its Chairman, Mr. Gbenga Adebayo, that: “Our members are initiating a phased process of withdrawal of USSD services, starting with the most significant debtors within the Financial Service Providers (FSPs) effective Monday, March 15.

“While the withdrawal of USSD service is in place, we encourage our subscribers to kindly explore alternative channels with their banks. “We deeply regret that we have reached a point where the withdrawal of these services has become unavoidable, however, we remain committed to working closely with the relevant ministries and regulators to resolve this issue as quickly as possible.

“To minimise the disruption to customers, and with the concurrence of the Honourable Minister of Communications and Digital Economy and the Nigerian Communications Commission (NCC), on the huge debt to the Network operators; Mobile Network Operators will disconnect debtor Financial Service Providers (FSPs) from USSD services until the huge debt is paid,” Adebayo said. According to Adebayo, it has been more than eight months since the NCC issued an updated pricing methodology for USSD services for financial transactions in Nigeria. The methodology, he said, explicitly restricts Mobile Network Operators (MNO’s) from charging the end-user for the services and mandates the banking sector to enter into negotiations to settle outstanding obligations and agree on individual pricing mechanisms to be applied going forwards.

He said: “During this time, Mobile Network Operators (MNO’s) have continued to provide access to USSD infrastructure and our members have continued to pay all bank charges and fees to access the Banking industries assets and customers, despite the fact that obligations due from banks to telecoms companies for USSD services has reached over N42 billion.”

SHOCKING LIFE STORY!!!

Abuja Man reveals (FREE) secret Fruits that Increased his Manh00d size and Lasting Power in 5days…

CLICK HERE TO GET IT!!!

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica