Telcos Confirm Withdrawal Of USSD Services To Banks
Umbrella body of the telcom companies in the country, the Association of Licensed Telecom Operators in Nigeria (ALTON) has made public that they’ve withdrawn USSD services it provides to Deposit Money Banks (DMBs) over N120b debt.
A statement released on Friday, May 12, and signed by the Chairman and Head of Operations of ALTON, Gbenga Adebayo and Gbolahan Awonuga, said the approval was granted because despite multi-party stakeholder efforts to resolve the situation and prevent any impact on services, banks have continued to incur greater and greater debt, without making the commensurate payments.
The statement read;
“Every time some progress is made, the Deposit Money Banks, DMBs come up with reasons to take stakeholders several steps back, in this matter
“Members of the public will recall that Mobile Network Operators, MNOs and DMBs have had protracted disagreements concerning the appropriate USSD pricing model for financial transactions, transparency of charges, mode of collection and liability for payment of the outstanding and continuous service fees due to the MNOs (which currently stands at over N120 Billion).
“Due to the inability of MNOs and DMBs to reach an agreement on the issues, MNOs in 2021 sought to disconnect DMBs due to the unpaid debts which stood at N42 Billion as of that time.
“It is now obvious that the level of debt is unsustainable given the time/value huge cost of the continuous upgrade and operation of the systems and infrastructure dedicated to supporting USSD transactions of DMBs.
“In view of the foregoing, unless DBMs meet their debt obligations, MNOs will disconnect all banks indebted to them for USSD services rendered.”
Search The Poise
Recent Posts On The Poise
- On New Single ‘Whateva’, Marz Is Ready To Move On
- Detailmadeit Steps Out With Hustler Anthem, Shashe
- Ipeleng Reveals Why She Struggled To Connect With Blaqboi
- Erling Haaland Wins Premier League Player Of The Season And Also Young Player For The Season
- Sad! Former BBNaija Star, Joseph Ada, Dies In The US
- Roma Willing To Sell Tammy Abraham For €45 Million
- Tyson Fury Confirm He’s Back In Talks With Anthony Joshua For A September Bout
- Bayern Munich Win 10th Bundesliga Title Ahead Of Borussia Dortmund
- UFC Star Molly McCann Shows Off The £40k Rolex Bought For Her By Drake After She ‘Broke His Betting Curse’
- Hilda Baci Reveals Real Reason Why She Extended Cook-A-Thon To 100 Hours
Entertainment News6 years ago
Justin Bieber & Selena Gomez Have Started Hanging Out Again
News2 years ago
Buhari Reportedly plots retirement of southern Police AIG to clear paths for another IG from northern region
Business News1 year ago
Air Peace Introduces Priority Boarding For Military Personnel
Articles6 years ago
Marcus Rashford’s Girlfriend Lucia Loi
Photos5 years ago
Leroy Sane’s Girlfriend Candice Brook
Videos3 years ago
New Video: KingTurun – Jaiye
Entertainment News6 years ago
Top 10 Sexiest Young Female Celebrities in The World
Celebrities5 years ago
David Beckham Allegedly Got His Daughter’s Teacher Pregnant