Commercial banks in Nigeria have reconnected MTN customers to banking channels after disconnecting them from their channels, including the Unstructured Supplementary Service Data (USSD) and banking apps last Friday.
Our findings reveal that it took the intervention of the Minister of Communications and Digital Economy, Isa Pantami and the Central Bank of Nigeria Governor, Godwin Emefiele for the banks to have a rethink on the USSD imbroglio.
The banks blocked MTN subscribers, believed to be around 77 million, accounting for about 45 per cent of the total telecommunications market share in Nigeria, resulting in many of them being stranded and unable to recharge airtime via USSD amid the Easter celebrations.
Recall that Nigerian commercial banks recently complained of arbitrary cutting of their commissions by MTN from 4.5 per cent to 2.5 per cent which resulted in the blockade.
The banks had written to MTN to revert to the old commission, vowing to block MTN airtime in all their channels.
To ease the trauma for customers, MTN on Saturday introduced alternative electronic payment platforms to enable them recharge their airtime electronically. The payment platforms it announced included Flutterwave, Jumia Pay, OPay, Kuda, Carbon and BillsnPay.