News

FG halts USSD banking services proposed disconnection

Published

2 years ago

March 14, 2021

The Federal government has directed Mobile Network Operators to put on hold the impending suspension of Unstructured Supplementary Service Data services..

The directive was given by the Minister of Communications and Digital Economy, Dr. Isa Pantami, according to a statement titled ‘Impending suspension of USSD banking services put on hold’.

The statement was signed by the Technical Assistant (Information Technology) to the Minister of Communications and Digital Economy, Dr. Femi Adeluyi, on Saturday.

The Association of Licensed Telecommunications Operators of Nigeria had announced on Friday that they would disconnect banks from USSD services on Monday due to their over N42bn debt.

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Pantami has however called for a meeting on Monday with all stakeholders including the Governor of the Central Bank of Nigeria, the Executive Vice Chairman of the Nigerian Communications Commission, as well as the MNOs and financial institutions.

Adeluyi said the purpose of the meeting was to ensure an amicable resolution of the impasse.

“The outcome of the meeting will determine the next steps regarding the status of USSD financial services,” the statement said.

Adeluyi noted that the Minister had sent a letter with respect of the isssues to the CBN Governor on March 3rd, 2021, regarding the need for the banks to do the needful.