The prolonged dispute over Unstructured Supplementary Service Data (USSD) debts between Deposit Money Banks (DMBs) and telecommunications operators seems to have been settled. 

The confirmation came from Karl Toriola, the Chief Executive Officer of MTN Nigeria, during an appearance on Arise TV on Thursday, March 1. Toriola discussed the company’s first-quarter 2025 results, revealing revenue earnings of over N1 trillion. 

Recall that the USSD debt had been a major issue between the DMBs and telcos and had lasted for about five years. 

Back in the third quarter of 2024, telcos had threatened to suspend their services due to the outstanding debt, which then amounted to about N200 billion. This situation prompted quick intervention from the Central Bank of Nigeria and the Nigerian Communications Commission (NCC), leading to an agreement on the repayment terms. 

As of November 2024, the NCC put the debt at N160 billion. However, earlier this year, when it appeared the banks were not forthcoming with payments, the NCC directed the telcos to withdraw the USSD services from debt-owning DMBs, where about 18 banks were listed. 

This directive prompted the banks to look inward and start to comply with an earlier circular signed by the CBN and NCC, which articulated the payment patterns for the debt. 

Speaking, on Arise TV this morning, May 1, Toriola confirmed that the matter has been fully resolved and that banks have made payments. 

“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 MTN CEO stated.