Banks Owe Mobile Network Operators Debt Of Up To N50 Billion

Mobile network operators in Nigeria have claimed that commercial banks owe them up to N50 billion naira in unpaid charges for USSD services.Recall that Nigerian banks and mobile network telco providers had a disagreement in March over fees, which led to the temporary suspension of USSD banking services. According to Guardian, present at the Association of Licensed Telecoms Operators of Nigeria, this debt was at N45 billion in April and only keeps accumulating because banks refuse to do the appropriate thing and pay up.After several appeals to the banking community for repayment of this debt, mobile network operators had resolved to discontinue all USSD services on their lines once again but were stopped by the Central Bank of Nigeria. The Central Bank swiftly intervened and gave a matching order to the banks to repay the loan.“They were also asked to kick-start the new regime of USSD charge of N6.98k.The new USSD charge took effect from June 1,” a source reported.&nb...

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