Banks and Telcos Meet as USSD Debt Reaches N100 billion.

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Deposit Money Banks’ total debt to telecom companies for Unstructured Supplementary Service Data has exceeded N100 billion. As a result, banks and telcos are anticipated to have additional discussions in an effort to break the impasse.

Recently, the debt was estimated to be N80 billion. The debt has risen steadily and now exceeds N100 billion. According to source, banks owe just one of the telcos roughly N100 billion. The source claims that banks are stalling the debt recovery process by refusing to accept the debt.

Despite its importance, there has been conflict between banks and telcos over the non-remittance of USSD fees.

Punch.

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