Emmanuel Ochayi
Telecommunication companies in Nigeria have issued fresh threats to withdraw Unstructured Supplementary Service Data (USSD) services, adding another layer of controversy to the ongoing dispute over N120 billion owed to them by banks.
Join our WhatsApp ChannelThe dispute, which has been lingering for about four years, shows no signs of resolution.
Speaking to journalists, Gbenga Adebayo, Chairman of the Association of Licensed Telecoms Operators of Nigeria, expressed the frustration of the telcos.
He stated, “I think it’s just best to withdraw the services. On this issue of USSD debt, if parties have to go to court to get a final resolution, so be it. This is because every effort that is being made by everyone, where we move one step forward, several steps backward, is not going to work.”
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Despite recent attempts by telcos and banks to settle the USSD issue, the deadlock continues. Adebayo pointed out that this is primarily a commercial dispute and should be resolved accordingly. He also noted that political interference has hindered the enforcement of commercial terms.
“This is a commercial agreement that went south. This agreement has a provision for third-party intervention, whether arbitration or heading for the Court of Law, if it is allowed to take its own life, parties will decide where to go. Instead of going to meetings in Abuja with the minister or the CBN, parties would decide where to go according to the agreement.”
Adebayo emphasized that commercial matters like this should be left to market forces rather than determined by the government, as political interference can lead to such problems.
He revealed that in a recent meeting with the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, the minister showed sympathy for the telcos’ plight. Adebayo stressed that if all parties behaved responsibly, the matter wouldn’t have escalated to this point.
The telecommunication companies’ threat to withdraw USSD services adds a new layer of complexity to this ongoing financial dispute, leaving both banks and telcos in a precarious situation as the controversy continues to unfold.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
