Nigerian banks block MTN from banking channels

Nigerian banks have blocked MTN from their banking channels following a feud over fees charged for the service. MTN had reduced the banks’ commission from an average of 3.5 per cent to 2.5 per cent using USSD for banking services.

The feud has left millions of subscribers unable to recharge their phones using the USSD services on MTN lines on Friday. The decision by the banks to shut off the telecoms firm has led to a lot of frustration for customers.

MTN had advised its subscribers to seek alternative means of recharging their phones but did not mention what could have been the problem.

Official MTN logo

A message from MTN read “Dear Customer, our bank recharge channels are currently unavailable. Kindly recharge using physical cards. We apologise for the inconvenience. Thank you.” Local media reported sources saying it was the banks who refused to give any formal communication prior to the disconnection. The Punch quoted one source as saying that “Please note that MTN didn’t cut off customers and has no hand in this.

This is strictly the banks acting on their own. “We woke up this morning to see that MTN customers were cut off from USSD services overnight.

This has come as a surprise as there was no formal communication from the banks to their customers prior to their taking this action.”

Source: File

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