• Business - Companies
  • Updated: September 29, 2022

USSD: Banks’ Debt Hits N80 Billion 

USSD: Banks’ Debt Hits N80 Billion 

Telecommunications operators in Nigeria have revealed that banks’ debt to them for the provision of Unstructured Supplementary Service Data (USSD) has increased to N80 billion compared to N42 billion reported in 2021, adding that the banks are not cooperating in paying the debt despite interventions from the government.

Gbenga Adebayo, the Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON) made this known on Thursday at the ICT Growth Conference organised by the Nigeria Information Technology Reporters Association (NITRA).

“The banks would want us to be silent about the USSD debt but it is not going away until they pay.

"At the last count, the debt is now N80 billion.

“Some banks are responding while others are not.

"We are nearing that time when we have no choice but to discontinue the provisions of services to banks.

“I think it is dishonorable that our colleagues in that sector know that they have an obligation to service providers and are shying away from it.

“Banks remove charges from their customers but refuse to pay telecom operators.

"You don’t expect us to keep rendering services when you don’t pay.

“The irony of it is that if it was the other way round you can’t owe the bank a cent,” he said.


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