Telecommunication firms have issued Deposit Money Banks disconnection notice amid a disagreement over Unstructured Supplementary Service Data service debt running to over N120bn.
According to telcos, banks owe them N120bn for using their USSD infrastructure for financial services. As a result, the telcos — MTN, Glo, Airtel, and 9mobile- have now stated their firm intention to disconnect bank customers from accessing bank services through USSD short codes.
The notice of disconnection came after the Nigerian Communications Commission granted telcos the approval to disconnect the banks after efforts of stakeholders, led by the former Minister of Communication and Digital Economy, Isa Pantami, the NCC, the Central Bank of Nigeria, and MNOs and DMBs, failed to yield results.
The telcos said, “It is pertinent to note that the contract between MNOs and DMBs on the use of USSDs for banking transactions is strictly commercial and MNOs are at liberty to withdraw the services if it is established that the transaction is unprofitable to them.”
According to the Chairman, Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, serving the banks’ notices is part of the withdrawal process. He told The PUNCH, “We have not disconnected yet, but notices have been given to the banks.” – PUNCH
