Mobile network operators (MNOs) have firmly communicated that deposit money banks (DMBs) should abandon any hopes of having their debt forgiven regarding the use of the Unstructured Supplementary Service Data (USSD). Gbenga Adebayo, Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), delivered this message on behalf of the operators during the first interactive session of the new Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), Dr Aminu Maida, with the CEOs of telecom companies and other stakeholders in Lagos.
Adebayo revealed that the debt owed by banks for USSD usage has escalated to N200 billion. He emphasized that the issue is not going to disappear without full repayment, dismissing any notion that the debt could be written off as bad debt. “Banks USSD debts to telcos is now N200 billion. It will not go away. It will not be forgiven. It will be paid in full, and we will not hesitate to block debtor banks. This is a problem, and if it’s not solved, it will continue to haunt the rest of the sector,” he stated.
The ALTON chairman emphasized that the debt’s value is expected to keep increasing, driven by the ongoing foreign exchange challenges in the country. While discussions have taken place to address the debt crisis, Adebayo noted that these conversations have not translated into substantial debt repayment. The telecom operators are resolute in their stance, signaling the importance of resolving the outstanding USSD debt for the stability of the telecommunications sector.
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