The telecommunications companies, telcos in Nigeria have threatened to shut down the Unstructured Supplementary Service Data, USSD platform which banks use for mobile money transfer if CBN fails to compel banks to pay the N2 share due to them.
The telcos, through their umbrella body, the Association of Licensed Telecom Operators in Nigeria, ALTON, said the decision became necessary after banks fail to pay telcos the agreed percentage share but find other means of generating from the platform.
Chairman of the association Engr Gbenga Adebayo, says since operators’ other means of generating revenue from USSD platform would only mean imposing an additional cost on the subscribers, the group insists that the banks continue to honour the commercial agreement with the operators or they (operators) will be forced to shut down the USSD window.
Shutting down the windows will mean that the banks will not have access to the shortcodes which bank account holders use to send money through their mobile phones.
Dropping the hint at a press conference heralding the association’s 20 years anniversary, Adebayo said that the only way to avert the impending doom was for the industry stakeholders including the Nigerian Communications Commission, NCC, the Central Bank of Nigeria, CBN, the telcos and if possible the ministers overseeing these agencies, to come together and find a lasting solution to the issue.