Banks Unblock MTN As The Telco Reconnects To Banking Channels
Barely 48 hours after being disconnected from banking channels (UUSD and mobile banking apps inclusive), MTN customers have been reconnected to same by commercial banks on Sunday.
Our correspondent gathered that the development followed the intervention of the Minister of Communications and Digital Economy, Isa Pantami; and the Governor of the Central Bank of Nigeria, Godwin Emefiele.
Reportedly, the banks blocked MTN customers on Friday, leaving millions of MTN subscribers frustrated as they were unable to recharge airtime via USSD amid the Easter celebrations.
MTN, with about 77 million subscribers, making up about 45 per cent of the total telecommunication market share in Nigeria, is arguably the largest telecommunication operator in the country.
The blockade occurred when the telco reduced the banks’ commission from 4.5 per cent to 2.5 per cent. The banks had written MTN to revert to the old commission, otherwise, they would block MTN airtime in all their channels.
The banks, except Zenith Bank which was connected directly to MTN, subsequently blocked MTN from their banking channels, leaving millions of customers stranded as they were unable to recharge virtually.
MTN had explored alternative electronic payment platforms such as Flutterwave, Jumia Pay, OPay, Kuda, Carbon and BillsnPay for customers to recharge their phones.
