The Business NG - The BusinessNG Add to Favorites

The Business NG - The BusinessNG Add to Favorites

Go Unlimited with Magzter GOLD

Read The Business NG along with 9,000+ other magazines & newspapers with just one subscription  View catalog

1 Month $9.99

1 Year$99.99 $49.99

$4/month

Save 50%
Hurry, Offer Ends in 5 Days
(OR)

Subscribe only to The Business NG

1 Year$102.96 $34.99

Thanksgiving Day Sale - Save 66%
Hurry! Sale ends on December 3, 2024

Buy this issue $0.99

Gift The Business NG

7-Day No Questions Asked Refund7-Day No Questions
Asked Refund Policy

 ⓘ

Digital Subscription.Instant Access.

Digital Subscription
Instant Access

Verified Secure Payment

Verified Secure
Payment

In this issue

Telcos Threaten to Disconnect Banks from USSD Services Over N250bn Debt

The CEO of MTN Nigeria, Karl Toriola, has warned that telecommunication companies (telcos) may disconnect banks from the unstructured supplementary service data (USSD) platform due to a debt of N250 billion. USSD, also known as quick or feature codes, is a global system for mobile communications (GSM) protocol used for financial transactions. The debt has been accumulating since 2019, and telcos have been seeking a tariff adjustment to reflect the realities of the economy.

Toriola stated that the debt has become unsustainable for the operators and may lead to a disconnection of banking services on the USSD platform, subject to regulatory approval. He expressed optimism that the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) would resolve the impasse soon.

The telecom sector is facing a critical situation, with MTN and other operators struggling to maintain profitability due to naira devaluation, inflation, and rising costs. Toriola warned that if the government does not approve a tariff adjustment, the company may shut down, and the industry may collapse.

The Business NG Newspaper Description:

PublisherTuns Media & Comm Enterprise

CategoryNewspaper

LanguageEnglish

FrequencySemi-Weekly

The BusinessNG, a leading business news publication across Nigeria and WestAfrica With a strong team of 30 staff members and a weekly print circulation of over 10,000 copies, we are poised for growth and report all political relating to business news at all level

  • cancel anytimeCancel Anytime [ No Commitments ]
  • digital onlyDigital Only