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The Association of Telecommunications Companies of Nigeria (ATCON) has urged regulators to implement concrete measures to address the lingering N250 billion debt owed by banks to telecom operators for Unstructured Supplementary Service Data (USSD) services.
President Tony Emoekpere highlighted the urgency of resolving the debt crisis, warning that its persistence could hinder Nigeria’s financial inclusion goals.
“Resolving this debt issue is critical. If telecom operators are discouraged from supporting the financial sector due to accumulated debts, it will have a detrimental impact on financial inclusion,” Emoekpere stated.
USSD is a cornerstone of financial inclusion in Nigeria, particularly in rural areas with low smartphone penetration and limited internet access. It facilitates essential services such as mobile banking, airtime recharge, bill payments, and other telecom-related functions.
Emoekpere emphasized the need for regulators, including the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN), to establish a clear framework to ensure prompt and equitable resolution of the debt. He also called for prioritizing USSD traffic and creating incentives to encourage telecom operators to continue supporting the financial industry.
The debt, which has been unresolved for several years, has led telecom operators to threaten the suspension of USSD services if payments remain overdue.
According to Gbenga Adebayo, Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), while smaller banks have begun making repayments in installments, major lenders—responsible for the bulk of the debt—have yet to meet their obligations.
Telecom operators have consistently argued that unpaid debts undermine their ability to sustain USSD services, which are vital for financial transactions across Nigeria.
Stakeholders warn that without swift intervention from regulators, the unresolved debt could jeopardize efforts to expand financial inclusion, particularly in underserved rural communities that rely heavily on USSD technology.
To ensure the stability of Nigeria’s financial ecosystem, the telecom industry continues to advocate for collaborative action and sustainable solutions to this pressing issue.
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