Commercials banks Nigeria in have reconnected the Unstructured Supplementary Service Data (USSD) operations of MTN.
MTN had initially been barred from using the USSD platform to conduct its business following the reduction of the banks’ commission from an average of 4.5% to 2.5%.
The commercial banks had also argued that the commission percentage of MTN is lower than other telecommunication companies.
However, MTN, which has about 77 million subscribers, insisted on the commission percentage and even went on to seek alternative channels for the USSD platform through Flutterwave, Jumia Pay, Opay, among other intech platforms.
However, after 48 hours of disallowing MTN users from accessing their banks through the USSD platform, the telecommunication company and the commercial banks have come to terms.
MTN is now set to resume business on their USSD platform as the banks have lifted the ban.
Reports also suggested that it took the intervention of Minister of Communications and Digital Economy, Isa Pantami and the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to end the dispute.
