Strong indications have emerged that the federal government has directed the Nigerian Communications Commission (NCC) to name and shame 18 banks said to be owing N200 billion to telecom operators on Unstructured Supplementary Service Data (USSD), and have refused to settle such obligations for years.
Information on the space have shown that the telecom regulator should give nod of approval for that telcos to withdraw services to such debtor banks if after two weeks, they fail to settle the debts.
Complaints of banks’ multi-billion naira debt to telcos arising from USSD transaction paid by end users have been lingering since 2020, rising from below N40 billion up to over N57 billion by the end of 2021, and N250 billion in 2024.
Telcos claim the banks have vehemently refused to comply with the payment plan earlier drawn up.
The banks and telecommunications companies had in December, 2024, influenced a joint meeting of the Central Bank of Nigeria and the NCC where it was resolved that the banks should pay substantial part of the money by 31st December, 2014 and defray the remainder in a graduated process.
We gathered that similar effort at resolving the debt had remained unsuccessful due to the intransigence of the banks.
Few weeks ago, the Chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbenga Adebayo, speaking on the matter, accused the banks of deliberately frustrating moves to resolve the issue, pointing out that the only option, would be to withdraw the support that makes the USSD platform to function.
Industry watchers blame the regulatory agencies for treating banks with kid gloves, adding that such infractions are capable of endangering national security.
They also frown at how banks have not been fleecing their customers deposits or monies without being called to book.
