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BREAKING: USSD: After 48 Hours, Banks Lift Ban On MTN

Our correspondent gathered that the development followed the intervention of the Minister of Communications and Digital Economy, Isa Pantami; and the Governor of the Central Bank of Nigeria, Godwin Emefiele.
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After 48 hours of disconnecting MTN customers from banking channels including the Unstructured Supplementary Service Data and banking apps, commercial banks on Sunday have reconnected MTN customers to banking channels.

Our correspondent gathered that the development followed the intervention of the Minister of Communications and Digital Economy, Isa Pantami; and the Governor of the Central Bank of Nigeria, Godwin Emefiele.

Ngnews247.com had reported that the banks blocked MTN customers on Friday, leaving millions of MTN subscribers frustrated as they were unable to recharge airtime via USSD amid the Easter celebrations.

MTN, with about 77 million subscribers, making up about 45 per cent of the total telecommunication market share in Nigeria, is arguably the largest telecommunication operator in the country.

The blockade occurred when the telco reduced the banks’ commission from an average of 3.5 per cent to 2.5 per cent. The banks had written MTN to revert to the old commission, otherwise, they would block MTN airtime in all their channels.

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The banks, except Zenith Bank which was connected directly to MTN, subsequently blocked MTN from their banking channels, leaving millions of customers stranded as they were unable to recharge virtually.

MTN had snubbed the banks and opted for fintech companies such as Flutterwave, Jumia Pay, OPay, Kuda, Carbon and BillsnPay for customer to recharge their phones.

Details later…

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Alamu Tosin

The writer is Alamu Tosin. I have three strong passions in life — football, blogging and movies — in that order. I love spending time with friends talking about the important things in life and hate nothing more than ‘authority’ and hypocrisy. My personal believe in life is that once an individual sets his/her mind to achieve something, it is totally possible. And oh!, I am a strong Lannister, because I always pay my debt. For writing or fixing gigs, contact tosinalamu@gmail.com.

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