Banks complete N160b USSD debt payments to telecoms operators

By Favour Unukaso THE protracted Unstructured Supplementary Service Data (USSD) debt imbroglio between the Deposit Money Banks (DMBs) and telecommunications operators appeared to have been totally resolved. This was confirmed by Chief Executive Officer of MTN Nigeria, Karl Toriola, Thursday, when he featured on AriseTV to speak on the firm’s first quarter 2025 result,... Read More

Banks increase SMS alert charges, blame telcos 50% tariff hike

By Favour Unukaso DEPOSIT Money Banks (DMBs) will from today, May 1, begin to charge N6 instead of N4 for SMS transaction done on customers’ account. Leading the charge, yesterday in a notice to its teeming customers, Guaranty Trust Bank (GTB) attributed the adjustment to a recent upward review in telecommunication rates by service... Read More

Telcos get NCC nod to disconnect banks over N120b USSD debt

  By Favour Unukaso  TELECOMMUNICATIONS operators are set to disconnect Deposit Money Banks (DMBs) from the use of the Unstructured Supplementary Service Data (USSD) over the protracted debt, which has amounted to N120 billion.    Under the aegis of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), the services providers said the Nigerian... Read More

CBN, NIBSS unveil AfriGo, Nigeria’s first national payment card

THE Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement Systems (NIBSS) have unveiled Nigeria’s first National payment card named AfriGo. At the unveiling virtually yesterday, the CBN Governor, Godwin Emefiele, said the card was designed to cater to local peculiarities that the existing card products have failed to cater to. Emefiele said... Read More