Connect with us

Hi, what are you looking for?

The Periscope Global

News

CBN opposes MTN’s planned charges for USSD transactions

The Central Bank of Nigeria has opposed plans by MTN to charge their subscribers for Unstructured Supplementary Service Data access to banking services from Oct. 21.

The Governor of CBN, Mr. Godwin Emefiele, gave the bank’s position at a news briefing by the Nigerian delegation to the just-concluded World Bank/IMF Annual Meetings, in Washington on Sunday.

News Agency of Nigeria reports that MTN, in an SMS message to its subscribers, had said the decision was on the request of the banks and would take effect from October 21.

“Yello, as requested by your bank, from October 21, we will start charging you directly for USSD access to banking services.

“Please, contact your bank for more info,’’ the message said.

Responding to a question seeking his reaction to the announcement, the CBN governor said the bank would not allow that to happen.

“About five, four months ago, I held a meeting with some telecom companies as well as the leading banks in Nigeria at Central Bank, Lagos.

“At that time, we came to a conclusion that the use of USSD is a sunk cost.

“What we mean by a sunk cost is that it is not an additional cost on the infrastructure of the telecom company.

“But the telecom companies disagreed with us. They said it was an additional investment on infrastructure and for that reason, they needed to impose it.

“I have told the banks that we will not allow this to happen.

“The banks are the people who give this business to the telecom companies and I leave the banks and the telecom companies to engage.

“I have told the banks that they have to move their business, move their traffic to a telecom company that is ready to provide it at the lowest possible, if not zero cost.

“And that is where we stand, and we must achieve it,’’ he said.

NAN reports that the transactions to be affected by the charges include intra- and inter-bank money transfers, through USSD, among others.

(NAN)

7 Comments

7 Comments

  1. Pingback: long-distance movers

  2. Pingback: số đề con sâu

  3. Pingback: cách tỏ tình lãng mạn

  4. Pingback: cách để chàng yêu bạn nhiều hơn

  5. Pingback: mơ thấy hoa sen

  6. Pingback: mơ thấy có con gái

  7. Pingback: https://www.pornachi.com/porn/free-seex/

Leave a Reply

Your email address will not be published.

READ ALSO

News

The Periscope reporter The pioneer postgraduate peri operative students of the Federal Medical Centre FMC Yola have graduated with distinction. The Periscope has in...

News

The Periscope reporter The Association of Bauchi State Indigens in the United Kingdom has donated 256 different categories of Hospital equipments and medical consumables...

News

Adamawa: Husband murders mother of six in Mubi, for rituals or lunacy? The Periscope crime scene reporter A polygamous husband Aliyu Hussaini has allegedly...

News

By Adamu Muhammad DodoU UN-POLAC Deputy Country President, (Northern Nigeria) An international nongovernmental organisation assigns me to share rams to the financially disadvantaged families...