FG halts telcos plan to block bank USSD

Telecommunication companies last week announced plans to block from today (Monday) the USSD (Unstructured Supplementary Service Data) operations due to N42 billion accumulated debts owed by banks.

But the Federal Government has moved against it, intervening in the dispute between the banks and telecom companies, as it has directed the latter to suspend its plans to withdraw USSD operations from banks.

A statement signed by Femi Adeluyi, the Technical Assistant on Information Technology to the Minister of Communications and Digital Economy, Isa Pantami on Saturday, gave this indication.

It read in part, “The Honourable Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, has directed that the impending suspension of the USSD services by the Mobile Network Operators (MNOs) be put on hold.

“In a bid to ensure amicable resolution of the impasse, Dr Pantami has called for a meeting of all stakeholders, including Governor of the Central Bank of Nigeria, the Executive Vice Chairman of the NCC (Nigerian Communications Commission), the MNOs (Mobile Network Operators), and the financial institutions.”

Pantami’s intervention followed the decision of telecoms services providers, under the aegis of Association of Licenced Telecommunications Operators of Nigeria (ALTON), to withdraw USSD services due to the accumulated debt owed by banks.

ALTON had said the service withdrawal was necessary as both parties had yet to agree on a payment structure with the banks that did not involve the consumer paying.

The outcome of the meeting called by the minister for Monday would determine the next step regarding the status of the financial services.