The debt owed by Deposit Money Banks to telecommunication firms for Unstructured Supplementary Service Data (USSD) has increased to over N100bn from N80bn a few months ago.

 Banks and telcos are expected to hold more meetings to resolve the issue, but little progress has been made so far, according to the Head of Operations of the Association of Licensed Telecoms Operators of Nigeria.

A source in one of the telecom firms disclosed that the debt owed by banks to just one telco was around N100bn, and the total figure owed by all banks to all telcos could be estimated at N150bn.

USSD services are crucial for many Nigerians to access banking services on their phones without Internet connectivity, and the ongoing dispute is a hindrance to financial inclusion. Despite its importance, banks and telcos have been at odds over non-remittance of USSD fees since 2019.

source punchng.com

https://punchng.com/banks-telcos-meet-as-ussd-debt-hits-n100bn/