Former Kaduna lawmaker, Shehu Sani has blamed the Central Bank of Nigeria (CBN) for the new charges imposed by MTN for Unstructured Supplementary Service Data (USSD) access to banking services.
The telecommunications company had sent a message to its mobile customers stating that with effect from October 21, 2019, N4 would be charged on every 20 seconds spent while accessing banking services via USSD.
The CBN had opposed the USSD charges, saying it would not allow that to happen.
CBN Governor, Godwin Emefiele, speaking at a news briefing in Washington on Sunday, explained that about five months ago, he held a meeting with some telecom companies as well as the leading banks in Nigeria at Central Bank, Lagos.
“At that time, we came to a conclusion that the use of USSD is a sunk cost. What we mean by a sunk cost is that it is not an additional cost on the infrastructure of the telecom company.
“But the telecom companies disagreed with us, they said it is an additional investment on infrastructure and for that reason they needed to impose it.
“I have told the banks that we will not allow this to happen. The banks are the people who give this business to the telecom companies and I leave the banks and the telecom companies to engage,“ he said.
Reacting, Sani on his Twitter page, wrote: “The MTN learned from the CBN and the CBN is telling the MTN that its wrong.”
He also commended the federal government over the recent order on audit of NDDC.
“With trillions of Naira in debt,the audit of the NDDC as ordered by the FG is a step in the right direction and commendable,” Sani added.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
If you are motivated and passionate about building a global society, founded on justice, equity, fairness, transparency, accountability and superior knowledge, kindly consider donating to Ripples Nigeria’s solutions journalism.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: Inside UNILAG’s multi-million naira budgetary abuse and academic discord
The University of Lagos located in Nigeria’s commercial capital, Lagos, has been embroiled in controversies with allegations bothering on misappropriation of...
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...