USSD: Banks End ‘War’, Reconnect MTN To Recharge Services

MTN customers in Nigeria can now recharge again through the Unstructured Supplementary Service Data (USSD) and banking apps after commercial banks unblocked their banking channels.

It was gathered that millions of subscribers who had been left frustrated over their inability to recharge airtime via USSD can now heave a sigh of relief.

Naija News recalls MTN had reduced the banks’ commission from an average of 3.5 percent to 2.5 percent but the banks had rejected the move and had written MTN to revert to the old commission, otherwise, they would block MTN airtime in all their channels.

The banks, except Zenith, later disconnected MTN customers from the channels but the impasse has now been resolved on Sunday after about 48 hours.

However, in a letter dated April 3, 2021, signed by MTN Chief Executive Officer, Karl Toriola as obtained by The PUNCH, MTN has now agreed that the banks revert to the status quo 4.5% commission while further meeting has been scheduled for Tuesday.

The letter which was addressed to the Chairman of Body of Banks’ CEOs, Herbert Wigwe, 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 quo of 4.5% 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 6th of April 2021.”

Earlier, Nigeria’s Minister of Communications and Digital Economy, Isa Ali Pantami, had reacted to the fallout between Mobile Telephone Network (MTN) and some commercial banks in Nigeria.

Dr Pantami in a tweet on Friday evening, April 2 confirmed that the services will be restored to Nigerian citizens soon as both parties have reached an agreement.

Source: News

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