All lenders in Africa’s most populous country, except Zenith Bank, have taken MTN Nigeria off their platform, said Funso Aina, spokesman for the telecommunications company. The banks took the action after MTN reduced the commission paid to lenders for allowing customers use their platform to buy call credit, Aina said. Airtime sales are suspended through all banking channels — banking apps, USSD codes and even debit cards. MTN is the West African nation’s biggest telecom services provider with about 79 million subscribers.
“Dear Customer, our bank recharge channels are currently unavailable. Kindly recharge using physical cards. We apologize for the inconvenience. Thank you,” according to a text message sent to subscribers on Saturday.
MTN later provided 10 alternative platforms, including fintechs and its own mobile apps, that customers can use to make airtime purchases in a text message to subscribers late Saturday evening.
Banking channels are the preferred medium for many Nigerians to buy call credits on their phones because of the convenience it provides. Other telcos have not been affected by the action. The banks couldn’t be reached for comment.
©2021 Bloomberg L.P.
You may be interested
What Nigerian Government must do to stop banditry — Obasanjo, Sheikh GumiWebby - April 4, 2021
Ex-President Olusegun Obasanjo and Islamic cleric, Sheikh Ahmad Gumi, have asked the Nigerian government to settle and rehabilitate bandits who…
Buhari’s legacy in grave danger, says Tunde BakareWebby - April 4, 2021
By Alao Abiodun The presiding Pastor and General Overseer of the Citadel Global Church, Pastor Tunde Bakare, has stated the…