Home Banking, Finance & Investment Telcos to begin disconnection of banks USSD services starting from March 15th

Telcos to begin disconnection of banks USSD services starting from March 15th

by Blessing Ubani
Telcos to begin disconnection of banks USSD services starting from March 15th

The Federal government has instructed Mobile Network Operators to suspend Unstructured Supplementary Service Data services starting from March 15th until they pay theirs over N42bn debt.

This directive was issued by the Minister of Communications and Digital Economy, Dr Isa Pantami, according to a statement titled ‘Impending suspension of USSD banking services to financial providers due to huge indebtedness to telecom network operators.

The statement was signed by the Technical Assistant (Information Technology) to the Minister of Communications and Digital Economy, Dr Femi Adeluyi, on Saturday.

Due to the inability of the banks to come to terms on an agreed payment structure, had  forced the government to intervene to ensure that all parties involved such as the telecom operators, the banks, and the customers get involved in the cost- sharing solution.

However, Dr Issa Pantami has called for a meeting on Monday with all stakeholders including the Governor of the Central Bank of Nigeria, the Executive Vice Chairman of the Nigerian Communications Commission, as well as the MNOs and financial institutions.

The purpose and outcome of the meeting will determine the next line of action regarding the status of USSD banking services in Nigeria.

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