USSD: Banks Disconnects MTN From Online Banking

It has been reported that Nigerian banks have disconnected MTN customers from banking channels including the Unstructured Supplementary Service Data and banking apps.

According to reports, MTN customers complained on Friday that they were unable to recharge their MTN lines using USSD and other banking channels like the bank apps.

Customers were also unable to do banking transactions on MTN lines through USSD.

However, the Punch newspaper reported that this was not MTN’s fault, but the banks who had refused to give any formal communication prior to the disconnection.

The source revealed that,  “Please note that MTN didn’t cut off customers and has no hand in this. This is strictly the banks acting on their own. “We woke up this morning to see that MTN customers were cut off from USSD services overnight”. “This has come as a surprise as there was no formal communication from the banks to their customers prior to their taking this action”.

The source also revealed that MTN has reduced the banks’ commission from an average of 3.5 per cent to 2.5 per cent which predicated the actions of the banks. 

The source added that, “The banks wrote back to the aggregators to revert back to the old commission, otherwise, they would block MTN airtime in all their channels”.

The channels were blocked midnight leaving our customers stranded. Interesting that the bank Managing Directors met and quickly took a decision. Subscribers to telecommunications are being denied services by the banks even when they have money in their accounts”.

It was also made known that Zenith bank, which was connected directly to MTN and had their earnings at 2.70 per cent, was the only bank that has not blocked the telecommunication.

The source also added that,  the banks were unwilling to pay the cost of the USSD channel and were okay with cutting off subscribers in order to protect their profits.

“This only has to do with preservation of bank profits, which are already substantial and growing despite the wider economic conditions”.

“The government needs to step in and deal with this once and for all. Nigerian banks need to stop their tyrannical posture”, the source concluded.

About the author

Esther Ifeoluwa

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