After commercial banks barred MTN customers from using their networks, including the Unstructured Supplementary Service Data and banking applications, on Friday, MTN customers were reconnected to banking channels.
MTN reduced the banks' commission on USSD airtime to 2.5 percent, which resulted in the channels being blocked.
MTN decided to return to a 4.5 percent commission after intervention by Isa Pantami, the Minister of Communications and Digital Economy, Godwin Emefiele, the Governor of the Central Bank of Nigeria, and the Nigerian Communications Commission.
MTN Chief Executive Officer Karl Toriola wrote a letter on Saturday to Herbert Wigwe, Chairman of the Body of Banks' CEOs, stating that a meeting for the reduction of the charges will be held on Tuesday.
Toriola, Wigwe, Segun Agbaje, Managing Director/CEO, Guaranty Trust Bank Plc, and MTN Nigeria's Chief Financial Officer, Modupe Kadri held a virtual meeting on Saturday morning.
“In an effort to overcome the current USSD recharge impasse, given the involvement of our regulators, we hereby accept that the banks return to the status quo of 4.5 percent,” the letter said, copying the NCC's Executive Vice Chairman/CEO.
“However, on April 6, 2021, the banks and MTN Communications Nigeria Plc will meet to discuss various options that will result in cost reductions.”
When Pantami tweeted on Sunday, he confirmed that MTN customers had been reconnected to banking networks.
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