Pantami engages CBN, NCC over USSD dispute between MTN, Nigerian banks

Pantami

Pantami engages CBN, NCC over USSD dispute between MTN, Nigerian banks     Isa Pantami, the Nigerian Minister of Communications and Digital Economy, said he had the Nigerian bank and telecoms regulators over an ongoing dispute between MTN Nigeria and deposit money banks in the countries. As earlier recorded by Business Metrics, the dispute bothers on percentage commission due Value Added Service (VAS) aggregators for Unstructured supplementary service data (USSD) transaction conducted on MTN’s network. In a tweet on his official Twitter handle, the minister stated that “On the fallout…

Read more

USSD: Banks disconnect MTN from banking channels

MTN Nigeria to inject $1.5bn into broadband expansion plans

USSD: Banks disconnect MTN from banking channels     Commercial banks have disconnected MTN customers from banking channels including the Unstructured Supplementary Service Data and banking apps. MTN customers complained on Friday about being unable to recharge their MTN lines using USSD and other banking channels like the bank apps. Customers were also unable to do banking transactions on MTN lines through USSD. According to a source, this was not the doing of MTN but the banks who had refused to give any formal communication prior to the disconnection. The…

Read more

Banks, MNOs agree on new charges for USSD transactionss

Three premium banks raked in N65bn gain on stocks in May

Banks, MNOs agree on new charges for USSD transactions     Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) have reached new resolutions on the modalities charging their customers for banking transactions carried out through Unstructured Supplementary Service Data services (USSD). Both the MNOs and the DMBs have had protracted disagreements concerning the appropriate USSD pricing model for financial transactions. This resulted in the accumulation of outstanding fees estimated at N42 billion for USSD services rendered leading to threat of service withdrawal by the MNOs. To resolve the lingering…

Read more

Banks’ USSD debt to telcos hits N17bn, says Danbatta

NCC amends USSD pricing procedure for banking services

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta has said that commercial banks in the country are owing telecommunications companies over N17 billion following the regulator’s suspension of its Determination on Unstructured Supplementary Service Data (USSD) Pricing last year. The NCC, in furtherance of its mandate to protect the interests of consumers and support a robust telecommunications sector, recently announced that it had revised the Determination on the USSD. Speaking at ATCON’s virtual forum on “Meeting the Interests of Government, Consumers and Telecoms Companies in…

Read more

NCC amends USSD pricing procedure for banking services

NCC amends USSD pricing procedure for banking services

The Nigerian Communications Commission (NCC) has revised its Determination on Unstructured Supplementary Service Data (USSD) pricing published on the 23rd of July, 2019. This is in furtherance of its mandate to protect the interests of consumers and support a robust telecommunications sector, the commission explained in a statement signed Wednesday by Dr. Ikechukwu Adinde, its Director of Public Affairs. The amendment was necessitated following a protracted dispute between Mobile Network Operators and Financial Institutions on the applicable charges for USSD services and the method of billing. As a responsive and effective…

Read more

FirstBank’s *894# Code: Bypassing lockdown to offer banking services

FirstBank’s Adeduntan wins Global Banking and Finance’s Retail Banking CEO Award

Against the backdrop of the COVID-19 pandemic, millions of bank customers in Nigeria and abroad have been forced to remain at home due to restrictions and lockdown orders adopted as a potent measure against further spread of the virus. This measure, which did not exclude commercial institutions, particularly banks, threw up the challenge of how customers can still have access to banking services despite the lockdown that has put banking halls partially under locks and keys across the country. Throughout the period that the banks were not active at their…

Read more