Telcos Threaten To Withdraw USSD Services Over N80bn Debt Owed By Banks - langztrendlangztrend Telcos Threaten To Withdraw USSD Services Over N80bn Debt Owed By Banks - langztrend
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Telcos Threaten To Withdraw USSD Services Over N80bn Debt Owed By Banks
By on December 28th, 2022. News
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The chairman of ATCON, said the banks’ refusal to pay the debt will have a negative consequence on the Central Bank of Nigeria’s cashless economy agenda for the country.

Following the accumulated debt owed by banks which rose to N80bn in November, the Association of Licensed Telecommunications Operators of Nigeria (ALTON) has threatened to stop the use of unstructured supplementary service data (USSD)

Speaking in an interview with ThisDay, Gbenga Adebayo, chairman of ATCON, said the banks’ refusal to pay the debt will have negative consequence on the Central Bank of Nigeria’s cashless economy agenda for the country.

He said;

“The debt is rising and has not been paid by the banks. As of November 2022, the accumulated debt rose to over N80 billion. When we started the argument in 2019, it was N32 billion, and they continue to claim that they are not owing, but our investigation shows that they are still using the USSD platform to offer banking services to their customers, yet they are not remitting to telecom operators who own the USSD platform.

“Time will soon come when we will be constrained to withdraw the service and many bank customers that depend on the USSD service will suffer for it and it will affect the economy. It is hounorable to pay their debts and they have to pay.

“We are warning that the banks’ action in refusing to pay their debt, will have negative consequence on the CBN’s cashless economy agenda for the country. It will be a threat to cashless economy. So, CBN should advise money deposit banks to pay up the accumulated debts.”
 





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David Friday best known professionally as Donsmith makanaki , is a Nigerian Blogger , promoter Performing Artist, Music Publisher & Editor. An Award Winning Blogger , Donsmith makanaki is Associated with artist like Omah lay, Rema, DJ Kaywise , Ajebo Hustlers, Drake, Justin Bieber, Burna Boy,Davido,Wizkid,Buju,kizz Daniel,Dandizzy,Kolaboy. On 19th November 2019 Donsmith makanaki Unveiled “Langztrend NC” Donsmith makanaki An Entertainment Hub in Partnership with UMG, Donsmith makanaki is an Award winning Blogger with Hit tracks on different digital stores. Parents : Mr Ofonime and Mrs. Rose sunday Orgin: Akwa ibom State, Nigeria Subtitle: Nigeria Blogger Occupation(s): Blogger,Promoter,Computer Programming ,Digital marketing, and Web Designer Record Label: Langztrend INC, Universal Music Group Career: Donsmith makanaki Started djing at the age of 19 and his constancy in the profession made him improved to advanced level, He was Managed and Trained in blogging by various top Bloggers Donsmith makanaki have platform in many gigs Show, Tour and Clubs in various states across Nigeria ,Nominated in different awards and he’s the life of the party in turning up crowds Net worth: $30,000 as for 2021 Full name: David ofonime Friday Local Govt : Etim Ekpo L.G.A Akwa ibom Date of birth: 15 December 1997 Donsmith makanaki Donsmith makanaki Donsmith makanaki dropped a hit trap song Titled ‘Bless my hustle ’ ‘ Written by Donsmith makanaki in (2020),and later dropped his latest single titled ‘Fire Fire ’ with His Co Artist Mr Reese in 15 November (2020) Songs: Bless my hustle, Fire Fire , Lagos beat Awards And Nominations: NBF, ONC and BAC AWARD for Blogger of the Year

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