Nigerias banks have fully repaid nearly NGN 300 B USD 200 M in outstanding debt to telecommunications operators for Unstructured Supplementary Service Data USSD services, closing a four-year dispute that threatened the stability of the countrys digital financial ecosystem, the Association of Licensed Telecommunications Operators of Nigeria said.
The resolution removes a long-running friction point between two of Nigerias most vital sectors. USSD codes-the short numbers like 123 that allow mobile phone users to transfer money, check balances, and pay bills without smartphones or internet access-have become essential infrastructure for financial inclusion in Africas most populous nation.
At its peak, the unpaid debt had grown into a systemic risk, according to ALTON Chairman Gbenga Adebayo, who credited Nigerian Communications Commission leadership with steering both industries toward resolution.
