The lingering issue of N120 billion debt owed by banks for the Unstructured Supplementary Service Data (USSD), provided by telecom operators, has now been resolved. This is according to the Executive Vice Chairman of the Nigerian Communications Commission (NCC) Prof. Umar Danbatta.
He said with this the banks have agreed to clear the accumulated debt and continue to pay for the USSD service going forward under the corporate billing term this comes after the intervention of the Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi.
At the Telecom Executives and Regulators Forum (TERF) held today in Lagos, Danbatta said the issue was resolved at a recent meeting between the acting CBN Governor, the NCC, the telecom operators, and the banks. And the resolution was achieved based on the realization that financial inclusion cannot be achieved without telecom services.