The long-running dispute over Unstructured Supplementary Service Data (USSD) debt between Deposit Money Banks (DMBs) and telecommunications operators has finally been resolved, marking the end of a five-year standoff.
MTN Nigeria CEO, Karl Toriola, confirmed the development during an appearance on Arise TV on Thursday, May 1, where he discussed the company’s Q1 2025 financial results, which saw MTN report over ₦1 trillion in revenue.
The USSD debt, once estimated at ₦200 billion, had strained relations between banks and telcos. In Q3 2024, telecom providers threatened to suspend USSD services due to non-payment, prompting urgent intervention from the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC). A repayment agreement was subsequently reached.
By November 2024, the NCC had pegged the outstanding debt at ₦160 billion. However, continued delays led the regulator to order telecom companies to withdraw USSD services from defaulting banks—about 18 in total—earlier this year.
This regulatory action spurred the banks to begin honoring the terms of the earlier settlement framework outlined by the CBN and NCC.
Speaking on the issue, Toriola said:
“I can confirm that the matter has been fully resolved. We have received payments in full. Special thanks to the CBN, NCC, the banks, and other stakeholders that intervened in the matter.”
The resolution brings much-needed clarity to the USSD service ecosystem and signals improved collaboration between financial institutions and telecom providers.
