In recent news from Nigeria, it has been reported that Telecommunication operators have reached out to the Nigerian Communications Commission appealing towards phasing out the unstructured supplementary service data which is offered to banks due to over N80bn.
We have sought regulatory approval to pursue partial removal. We would start disconnecting those who owe us in batches, a highest debtor scenario. We don’t know as regards the timing because we are required to get approval before acting. But we would certainly commence the process once it is approved. The amount is over N80bn, it is not yet up to N90bn, but it is up to that.Gbenga Adebayo, Chairman, Association of Licensed Telecoms Operators of Nigeria
The debt is a lot now. The banks are charging customers. We could have done it but because we are. It will get to a time before we do that. Before we can do that, we need to get regulatory approval. I cannot give you a timeline. This could happen around the first quarter. This would affect the CBN’s cashless policy. How many people use Internet banking? This is likely going to happen in the first quarter and is around the N80bn.Gbolahan Awonuga, Head of Operations, ALTON