Entrepreneurship, Innovation and Startups News Hub


Banks Unblock MTN From USSD and Banking Apps

Reading Time: < 1 minute

Commercial banks in Nigeria have unblocked MTN from their USSD and banking apps. What this means is that MTN customers can now buy airtime and data using USSD and banking apps.

There was a 48-hour stand-off between banks and MTN after the latter reduced the formers’ commission from an average of 3.5 percent to 2.5 percent.

According to Punch, the banks had written MTN to revert to the old commission, otherwise, they would block MTN airtime in all their channels.

However, MTN rebuffed the banks and refused to revert to the old commission. This prompted the banks to carry out its threat to disconnect MTN from the USSD and banking channels.

READ  Update on Banking Channel Partners’ Dispute and Expansion of Channel Network

To further show its resolve not to bulge, MTN announced fintechs like OPay, Jumia Pay, Kuda and Flutterwave among others as new channels to buy airtime.

The banks, except Zenith Bank which was connected directly to MTN, subsequently blocked MTN from their banking channels, leaving millions of customers stranded as they were unable to recharge virtually.

Now it seems the intervention of the Minister of Communication and Digital Economy, Dr. Isa Pantami and Central Bank of Nigeria Governor, Godwin Emiefiele has had an impact as MTN has been unblocked.

Jiji Nigeria
We would like to make you the first to get all our updates!    OK No thanks