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.
