N120bn Debt: CBN Wades Into DMBs, Telcos USSD Crisis peoplesdailyng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from peoplesdailyng.com Daily Mail and Mail on Sunday newspapers.
The Association of Licensed Telecom Operators in Nigeria (ALTON) has officially announced the withdrawal of USSD services it provides to Deposit Money Banks (DMBs). The association said the reason for the withdrawal of the services was due to over N120billion owed members by the deposit money banks. It added that the level of debt was no longer unsustainable given the time/value huge cost of the continuous upgrade and operation of the systems and infrastructure dedicated to supporting USSD transactions.
Telcom companies in Nigeria, under the umbrella of Association of Licensed Telecom Operators in Nigeria (ALTON) have announced that they've withdrawn USSD services it provides to Deposit Money Banks (DMBs) over N120b debt.
Nigeria has, for now, held off on plans to impose a 5% tax on telecommunications services that the Ministry of Finance and the Nigerian Customs Service had suggested would be imposed in 2023.
The Nigerian Communications Commission (NCC) has reaffirmed its commitment to accelerate deployment of robust broadband infrastructure accessible to all