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FG Intervenes For MTN To Resumed Airtime Sales On Banking Channels

FG Intervenes For MTN To Resumed Airtime Sales On Banking Channels

FG intervenes for MTN to resumed airtime sales on banking channels Sunday after banks lifted a ban on the telco following an intervention by the Nigerian government.

Nigerian banks on Friday barred the Johannesburg-based firm from using their USSD platform to conduct business as both sides scuffled over airtime sales fees.

The three day long feud started after MTN, which has the biggest share of Nigeria’s telecoms market, reduced the rate it pays banks for each transaction from 4.5 per cent to 2.5 per cent.

The lenders removed the telecom giant from their platforms, disallowing MTN users from accessing their bank accounts to recharge their phones.

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FG Intervenes For MTN To Resumed Airtime Sales On Banking Channels
FG Intervenes For MTN To Resumed Airtime Sales On Banking Channels

As subscribers expressed their frustration, MTN advised them to seek alternative ways of recharging. On Saturday, the firm announced alternative channels for its airtime sales, including a host of fintech platforms led by Flutterwave.

Service resumed Sunday afternoon after MTN agreed to revert to “status quo” at the request of the Minister of Communications, the Nigerian Communications Commission and the Central Bank of Nigeria while a permanent solution is being worked out, PREMIUM TIMES learnt.

FG intervenes for MTN to resumed airtime sales on banking channels
“The CBN Governor’s intervention is in line with our core values. We acceded to his request and that of our Minister. We will continue to live our values that ‘everyone deserves the benefits of a modern connected life’,” Carl Toriola, MTN Nigeria chief executive, said Sunday.

The telco told PREMIUM TIMES its firm’s pursuit has always found motivation in leveraging business to the fullest in the interest of customers and the Nigerian market.

“MTN’s intention has always been geared towards business optimization to the benefit of our customers and indeed the country,” Mr Toriola said.

FG Intervenes For MTN To Resumed Airtime Sales On Banking Channels
FG Intervenes For MTN To Resumed Airtime Sales On Banking Channels
FG Intervenes For MTN To Resumed Airtime Sales On Banking Channels
FG Intervenes For MTN To Resumed Airtime Sales On Banking Channels

FG intervenes for MTN to resumed airtime sales on banking channels, I hope that network providers have learnt their lesson, what do you think?

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