Telecommunication subscribers under MTN Nigeria network can heave a sigh of relief days after they were locked out from accessing their bank accounts Unstructured Supplementary Service Data (USSD) channels.
Information available to TechEconomy.ng indicate that the leading telecom network operator and its banking partners have agreed to sheath their swords for now on the Unstructured Supplementary Service Data (USSD) channels services restriction and commission.
Following the intervention of the Minister of Communications and Digital Economy, Dr. Isa Ali Pantami; the two industry regulators, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC), the parties on Saturday resolved to find a middle part to their disagreement.
On the fallout between @MTNNG and some banks on USSD services today, I engaged with both regulators, the Governor of @cenbank and EVC @NgComCommission. We have reached an advance stage of resolving the issues, for the services to be restored to our citizens. Many thanks!
— Isa Ali Pantami, PhD (@DrIsaPantami) April 2, 2021
The Chief Executive Officer of MTN Nigeria, Mr. Karl Toriola; the group CEO of Access Bank Plc, Mr. Herbert Wigwe who is also the chairman of the Body of Bank CEOs in Nigeria; Group CEO of Guaranty Trust Bank Plc, Mr. Segun Agbaje as well as MTN Nigeria’s chief financial officer, Modupe Kadri, held a virtual meeting and agreed to revert back to status quo ante of 4.5 per cent commission on USSD airtime.
MTN had on Thursday March 31, 2021 reduced the commission accruable to the value added service (VAS) aggregators and banks from 4.5 per cent to 2.5 per cent with effect from Friday April 1, 2021.
The sudden change in commission did not down well with the aggregators and banks; they immediately restricted the vending of airtime by MTN subscribers from banks accounts and USSD platform.
Techeconomy.ng sighted a letter signed by MTN CEO, Toriola and addressed to Wigwe which was a follow-up on the virtual stated that,
“In an attempt to resolve the current USSD impasse, given the intervention of our regulators, we hereby agree that the banks revert back to the status quo of 4.5 per cent commission.
“However, the banks and MTN Nigeria Plc shall sit to agree on various options that will result in the costs on 6th of April 2021.”
The MTN boss copied the Executive Vice Chairman/CEO of the NCC, Prof . Umar Danbatta, in the letter.
Toriola clarifying further, thus: “the document was issued by me to the banks on the specific intervention of the CBN Governor and the Minister for Communications and Digital Economy. MTN’s intention has always been geared towards business optimization to the benefit of our customers and indeed the country
“This is evidenced by the fact that through the USSD imbroglio, we never denied access to our customers. In the current case, customers have been denied access to services by the banks despite having monies in their accounts to purchase those services. MTN will naturally do all it can to minimise customer pain. It is not just about revenue for us.
“The good of our customers influence every decision we take. The CBN Governor’s intervention is in line with our core values. We acceded to his request and that of our Minister. We will continue to live our values that ‘everyone deserves the benefits of a modern connected life,” he concluded.
Recall that MTN had intimated its subscribers of partnership with financial technology companies (Fintechs) as alternative channels for airtime vending will continue, noting that subscribers can purchase MTN airtime from Flutterwave, JumiaPay, Kuda, Carbon, BillnPay, myMTN Web, Mobile money (MoMo) agents and OPay.