Access, GTB and First bank managements are reportedly planning to protest against the leading telecom company in Nigeria called MTN, following its unlawful actions on their customers which has hindered them from carrying out a convenient financial transaction provided by commercial Banks.
The telecoms company and the financial sector couldn't reach an agreement regarding the fee sharing from the Unstructured Supplementary Service Data (USSD). Because MTN had reduced the commission of some banks, while it increased that of others.
MTN hereby blocked many subscribers who are mostly customers of these mentioned banks using USSD services, without reaching a consensus with their respective management.
The y'ello network provider cut the rate of USSD deductions to 2.5% from 3.5%, but the commercial banks requested for the old amount to be restored. Refusal on the part of MTN has reportedly lead to serious plans to carry out protest against them by these financial institutions.
What is really happening?
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