Commercial banks have disconnected MTN customers from banking channels (including data about unsolicited additional services and banking applications).
Last Friday, MTN customers complained that they could not use other banking channels such as USSD and banking apps to recharge their MTN lines.
Customers are still unable to conduct bank transactions on the MTN line through USSD.
The source said that this is not the job of MTN, but the bank refused to make formal communication before disconnecting.
The source said: "Please note that MTN has not disconnected customers, and it does not matter. It strictly enforces the bank itself."
"We woke up this morning and found that MTN users had stopped using the US dollar service overnight. Surprisingly, there was no formal communication between the bank and its customers before this.
According to sources, MTN has reduced the average bank fee from 3.5% to 2.5%, which can predict the bank’s share.
The source said that this reduction is a standard to compensate for the reduction in transaction volume, he added, adding that agreements with channel partners and collective companies make them indirectly linked to banks.
The source said: "The bank has written to depositors to restore the original commission, otherwise, they will close the antennas of all channels of MTN."
The Midnight Channel was blocked and our subscribers were trapped. Interestingly, the managing director of the bank met and quickly made a decision. Banks reject services from telecommunications buyers, even if they have money in their accounts.
According to sources, Zenith Bank, which is directly related to MTN, has a turnover of 2.70% and is the only bank that has not blocked Teleco.
However, according to him, the bank has increased its commission for MOD from 2.0% to 2.75% and stopped the service. Through MOD, banks directly associated with Telco have received commission increases.
According to sources, banks are unwilling to pay the price of the USSD channel and are willing to cut subscribers to save profits.
The source added: "This is just to protect the bank's profits. Despite broader economic conditions, profits are already growing."
He said the government needs to deal with it first. Nigerian banks need to stop their repressive currency.
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