Nigerian Banks reconnect MTN customers to banking channels

By our Reporter

Two days after disconnecting MTN customers from banking channels including the Unstructured Supplementary Service Data and banking apps following intervention of the Minister of Communications, commercial banks on Sunday have reconnected MTN customers to banking channel.

All fingers pointed to the statement of the Minister of Communications and Digital Economy Intervention, Isa Pantami; and the efforts of the Governor of the Central Bank of Nigeria, Godwin Emefiele.

In our earlier report,it was revealed that 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 disconnection occurred when the telco reduced the banks’ commission from an average of 3.5 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 said it would partner with such as Flutterwave, Jumia Pay, OPay, Kuda and Carbon to recharge their lines.

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