BREAKING: Banks agree to urgent payment of N42bn USSD debt to MNOs

USSD banking services

Banks agree to urgent payment of N42bn USSD debt to MNOs   Financial institutions in Nigeria have agreed to urgently pay the N42 billion debts they owe mobile telephone operators for using USSD infrastructures of the telcos for financial services. The telcos had threatened to shut down the services they offer to banks and other financial institutions if the debt owed them worth N42 billion was not paid urgently. However, Isa Pantami, the minister of communications and digital economy, was swift to avert the major financial service breakdown as he…

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Breaking: Telcos withdraw USSD banking services over banks’ refusal to pay debt

USSD Debt

Breaking: Telcos withdraw USSD banking services over banks’ refusal to pay debt Telecoms service providers responsible for the usage of Unstructured Supplementary Service Data (USSD) for banking services in Nigeria have resolved to stop offering the service to millions of Nigeria. According to the Association of Licensed Telecommunications Operators of Nigeria (ALTON) the umbrella body of network operators, infrastructure companies and Value Added Services (VAS) providers said the decision has been trigger by huge indebtedness of banks to telcos and their refusal settle the debt. In a press statement on…

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