Banks Clear N300bn USSD Debt to Telecom Operators

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) confirmed that banks have cleared nearly N300 billion in USSD debt owed to telecom operators. Engr.

Gbenga Adebayo, ALTON Chairman, made this announcement during an official visit to the Nigerian Communications Commission (NCC) Chairman, Idri Olorunnimb, on Thursday. The debt issue had lingered for four years and was resolved through the intervention of NCC leadership, which included the approval of a 50% tariff increase last year.

Adebayo noted that while the debt has been largely cleared, three banks are still negotiating installment payments. He emphasized that the new billing model would mean that end users would be charged for USSD services directly from their mobile airtime rather than through bank accounts.

This change, initiated in June last year, aims to create a sustainable and transparent framework for delivering USSD services in Nigeria's growing digital financial landscape.