USSD: Banks Deny Owing MTN Nigeria, Other Telcos
Deposit Money Banks (DMBs) in the country are not indebted to MTN Nigeria and other phone companies for using Unstructured Supplementary Service Data (USSD) platforms to provide payment services, the Chief Executive Officer, Access Bank, Herbert Wigwe has said.
Bloomberg yesterday quoted him as saying on an investor call on Thursday that: “There is no such thing as an obligation due from banks to telcos.
We chose not to make a public statement out of it because it is not appropriate for us to be found fighting with telcos in public.” Wigwe is the chairman of the Body of Bank CEOs that has been in discussion with MTN Nigeria to resolve a dispute that led some banks to cut off the company from their banking platforms last week.
This was after MTN, the nation’s biggest telecom se...
