USSD Debt Hits N100bn As Banks, Telco’s Meet

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Deposit Money Banks’ accumulated debt from Unstructured Supplementary Service Data to telecommunication firms has surpassed N100 billion.

As a result, banks and telecommunications companies are expected to hold another round of meetings in order to break the impasse.

A few months ago, the debt was estimated to be N80 billion.

Brandspurng can confirm that USSD debts had increased from N80 billion in November 2022 to more than N100 billion. The month of April

According to him, little progress has been made in terms of repayment, with telcos and banks still locked in negotiations.

“There is no way forward while the banks and MNOs continue to negotiate. The debt has continued to rise and now exceeds N100 billion.”

A senior source in one of the telecom firms said that USSD debt has surpassed N100 billion. According to the source, banks owe only one of the telcos about N100 billion.

According to the source, “N100 billion is insufficient.” The amount owed to us as of November of last year was N90 billion. Right now, it is safe to say that the sum exceeds N100 billion. What about the others? This is just one telco. The total amount could be estimated at N150 billion.”