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MTN, Bank Settles Rift, USSD Reconnected

Pantami Isa

Banks in Nigeria have reconnected mobile network giants, MTN to banking channels including the Unstructured Supplementary Service Data (USSD) and banking apps.

The banks disconnected MTN from the banking channels last Friday due to disagreement over earnings.

Creekvibes news magazine recall that, the network giant had reduced commission paid to GTBank and other lenders from an average of 3.5 percent to 2.5 percent.

Although not all the banks received a reduction, but out of the lenders that were affected only Zenith Bank chose not to block MTN.

On why the commission for the USSD code was cut by MTN, the insider said the volume of usage influenced the reduction in commission.

The decision to reconnect the mobile network followed the intervention of the Minister of Communications and Digital Economy, Isa Pantami, on the dispute.

The minister had on Friday spoke with the Governor of Central Bank of Nigeria, Godwin Emefiele, and the Executive Vice-Chairman of the Nigerian Communications Commission, Umar Danbatta, in a bid to resolve the dispute which affected 77.34 million subscribers.

Pantami, who confirmed the meeting on his Twitter handle, wrote: “On the fallout between @MTNNG and some banks on USSD services today, I engaged with both regulators, the Governor of @cenbank and EVC @NgComCommission.

“We have reached an advanced stage of resolving the issues, for the services to be restored to our citizens.”