Telecoms to Droop USSD as 18 Banks Owe N250bn
Some banks danger disconnection by telecom operators over their failure to adjust to a directive of the Nigerian Communications Fee (NCC) to repay the N250 billion Unstructured Supplementary Service Information (USSD) money owed.
It was learnt that the telcos have gotten the regulator’s nod to disconnect the affected Deposit Cash Banks (DMBs).
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The suspension of the USSD service is predicted to final for 2 weeks to allow their prospects migrate from their non-compliant standing to the banks which can be complying.
Final 12 months, the NCC and the Central Financial institution of Nigeria (CBN) issued some circulars, directing the banks to offset their money owed.
The latest round directed all banks to pay ₦212.5 billion – 85per cent of a ₦250 billion debt – as stipulated in a December 20 memo.
However as at January 1, solely 4 banks had complied with the directive, whereas 18 others refused to pay, giving varied excuses why they weren’t presupposed to pay the debt.