Guest Business News writer
Noruwa Igiehon
In a significant development for Nigeria’s telecommunications industry, commercial banks have finally cleared the long-standing ₦160 billion debt owed to telecom operators for Unstructured Supplementary Service Data (USSD) services. The resolution brings much-needed relief to telecom firms that have repeatedly raised concerns about the financial strain caused by the unpaid charges.
The debt, which accumulated over several years, stemmed from USSD services used by bank customers for mobile banking transactions. While the banks profited from the convenience and reach of the USSD platforms, telecom operators bore the infrastructure and operational costs without timely reimbursement.
After protracted negotiations involving the Central Bank of Nigeria (CBN), the Nigerian Communications Commission (NCC), and industry stakeholders, an agreement was reached that ensured full settlement of the debt. Sources say the final tranche of payments was made last week.
“This is a welcomed development that reinforces collaboration across sectors,” a spokesperson for the Association of Licensed Telecommunications Operators of Nigeria (ALTON) said. “Telcos have been patient and professional throughout the process. We’re glad this burden has been lifted.”
Banking industry representatives also confirmed the resolution, noting that improved billing transparency and a sustainable USSD pricing model are now in place to prevent future disputes.
With the debt issue now resolved, telecom operators are expected to reinvest in their USSD infrastructure, improve service delivery, and possibly expand digital financial inclusion efforts across underserved areas of the country. The settlement marks a positive step toward strengthening the relationship between Nigeria’s banking and telecommunications sectors.
