Karl Toriola, the Managing Director and Chief Executive Officer, MTN Nigeria, has announced the decision to revert discount to 4.5 percent commission with banks.
MTN had reduced banks’ commission from an average of 3.5 percent to 2.5 percent, which led to a disagreement between the teleco and commercial banks.
Following the development, Nigerians had taken to various social media to complain about the difficulties in buying airtime or data after all the Deposit Money Banks (DMBs) in the country had blocked MTN from banking channels.
In his reaction, Dr Ali Pantami, the Minister of Communications and Digital Economy, on Saturday, assured MTN subcribers that USSD services for the network will be restored soon, adding that a meeting with the regulators of the two industries (CBN and NCC) had been held.
However, while giving an update in a statement released on Sunday, Toriola announced that the telecom have reverted the discount to 4.5 Percent Commission.
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“In an attempt to resolve the current USSD recharge problems, given the interventions from our regulators, we hereby agree that Banks revert to the status quo of 4.5% commission,” the statement said.