Banks And MTN To Resume Talks Over USSD Charges Today

Angel

USSD BANK CHARGES

 

The assembly between MTN and Deposit Money Banks (DMB) that used to be held in Lagos ended inclusively the day gone by and would continue today.


One of the regulatory sources, who confided in THISDAY, stated the assembly was once a hybrid one, due to the fact it used to be held bodily in Lagos, however used to be joined actually from Abuja by way of 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.


The officers of the banks and the MTN, in accordance to the source, had been bodily existing at the assembly whilst Pantami, Emefiele and Danbatta joined virtually.


“The troubles surrounding the industrial dispute between banks and the MTN, had been mentioned however the dialogue was once inclusive and the assembly was once adjourned to today,” the supply said.


The supply on the other hand brought that the assembly was once no longer possibly going to be concluded today, due to the fact of the gray problems in the business dispute. The supply was, however, positive that a decision on the trouble may be reached by means of the next day (Thursday).


The banks had on Thursday final week disconnected the MTN clients from getting access to the USSD code on airtime merchandising from all financial institution channels that have been linked to USSD code.


The banks, it was once reported, took the choice to disconnect the MTN due to the fact it decreased the bargain supplied to banks on airtime income from 4.5 per cent to 2.5 per cent, which did now not go down nicely with banks thinking about the value of managing the infrastructure and different operational charges they incurred.


Pantami, who waswWorried about the motion of the banks to disenfranchised MTN clients from carrying out monetary transactions the use of the USSD code, had a assembly with Emefiele on Sunday and after the assembly they directed each the banks and the MTN to return to fame quo pending when the problem would be resolved.


The banks right away reconnected all MTN clients and a assembly used to be constant for the day past April 6, 2021 to start negotiations that would lead to the decision of the business dispute between the banks and the MTN.


A letter that was once signed by way of the Chief Executive Officer of MTN Nigeria, Mr. Karl Toriola, reminded the bank’s CEOs of yesterday’s hybrid meeting.


The letter reads: “In an strive to unravel the modern USSD recharge impasse, given the intervention from our regulators, we hereby agree that the banks revert to the fame of 4.5 per cent commission. However, the banks and MTN Communications Nigeria Plc, shall take a seat to agree on a number alternatives that will end result in the discount in the charges on April 6, 2021.”

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