Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Business

USSD service disruption: MTN, banks meeting end in a deadlock, continues today

Chike Olisah by Chike Olisah
April 7, 2021
in Business, Business News, Financial Services, Spotlight
NCC, MTN’s parent company faults regulator’s recommendation for data price reduction, MTN Nigeria reacts to poor internet as network issues go beyond Nigeria , MTN yet to renew Universal Access License- NCC
Share on FacebookShare on TwitterShare on Linkedin

The meeting between MTN and the commercial banks is expected to continue today as the one held yesterday between both parties ended in a deadlock.

The officials of the commercial banks and MTN were physically present in the hybrid meeting while the Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami; the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele; and the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Professor Umar Garba Danbatta, joined virtually.

According to a report from Thisday, the meeting was adjourned to Wednesday after the discussion on the issues surrounding the commercial dispute were inconclusive.

RelatedPosts

External Reserves up $6 billion in one year but no forex

States with the largest telecoms infrastructure in Nigeria

READ: Nigerian Banks to stop “instant completion” for forex transfers online

However, a source added that the meeting was not likely going to be concluded today, because of the grey issues in the commercial dispute, but expressed optimism that the resolution might be reached on Thursday.

News continues after this ad


The Chief Executive Officer of MTN Nigeria, Mr Karl Toriola, had earlier written a letter to the CEO of banks where he reminded them of yesterday’s hybrid meeting.

The letter partly reads, “In an attempt to resolve the current USSD recharge impasse, given the intervention from our regulators, we hereby agree that the banks revert to the status of 4.5 per cent commission. However, the banks and MTN Communications Nigeria Plc shall sit to agree on various options that will result in the reduction in the costs on April 6, 2021.”

News continues after this ad


READ: MTN names CWG’s Billsnpay, more Fintechs as alternative top-up channels

In case you missed it

It can be recalled that on Thursday last week, MTN subscribers were disconnected from all banking channels by the commercial banks, due to disagreements over banks’ commission which was reduced by the mobile network operator from 4.5% to 2.5%

The commercial banks, in an earlier written communication with MTN, were reported to have asked for a reversal to the old commission or they would block MTN airtime recharge services in all their channels.

All the commercial banks, except Zenith Bank which was connected directly to MTN, thereafter barred MTN from their banking channels, leaving many MTN subscribers stranded and frustrated as they were unable to recharge airtime through USSD and bank apps amid the Easter celebrations.

READ: NIPOST reclaim stamp duty collection from FIRS after years of dispute

However, the Federal Government, through the Minister of Communications and Digital Economy, Isa Pantami, had waded into the matter and had a meeting with the CBN Governor, Godwin Emefiele, on Sunday, where it was agreed that both parties should return to the status quo pending the resolution of the issues.

The banks immediately reconnected all MTN customers and a meeting was fixed for yesterday April 6, 2021, to begin negotiations that would lead to the resolution of the commercial dispute between the banks and MTN.

Related

Tags: CBNcommercial banksIsa PantamiMTNNCCUSSD recharge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • The last speech delivered by HE Mohammad Sanusi Barkindo (RIP)
    • FCCPC to sanction DisCos for service failures, non-compliance with power sector rules
    • Kuje prison attack: I am disappointed with intelligence system – Buhari

    Follow us on social media:

    Recent News

    Profile of Mohammed Sanusi Barkindo, the late OPEC secretary general

    The last speech delivered by HE Mohammad Sanusi Barkindo (RIP)

    July 6, 2022
    Babatunde Irukera

    FCCPC to sanction DisCos for service failures, non-compliance with power sector rules

    July 6, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com