jili macao
Alex Ovechkin is expected to miss 4 to 6 weeks with a broken left leg
Daily Post Nigeria NCC to resolve telecoms, banks’ USSD debt issue with CBN Home News Politics Metro Entertainment Sport Sponsored NCC to resolve telecoms, banks’ USSD debt issue with CBN Published on November 24, 2024 By Daily Post Staff The Nigerian Communications Commission (NCC) is in talks with the Central Bank of Nigeria (CBN) over the Unstructured Supplementary Service Data (USSD) debt totalling N250 billion between the telecom operators and the commercial banks in the country. USSD, known as quick or feature codes, is a global system for mobile communications (GSM) protocol used to send text messages and initiate financial transactions such as cash transfers, balance inquiries, payments for services and others. However, the USSD platform, which is widely relied upon by millions of Nigerians for quick and efficient mobile transactions, has become a point of disagreement between the banks and telecom operators. The crisis dates back to 2019 when telcos proposed charging N4.50 per 20 seconds of USSD usage in order to cover operational costs after years of providing the service for free. But the banks kicked against this, saying a 450% increase in transaction costs will significantly grow the debt and strain relations between the two vital industries. However, the NCC’s Director of Consumer Affairs Bureau, Dr Ikechukwu Adinde, who disclosed this move, said commission was hopeful the issue would soon be settled. According to him, “The NCC remains committed to ensuring that the interests of all stakeholders—consumers, telcos, and banks—are protected.” He insisted that a resolution is critical to maintaining the seamless operation of mobile financial services that millions of Nigerians depend on daily. Akinde, who also said plans are on to introduce reforms at enhancing tariff transparency in the telecommunications industry, believed the new move between the NCC and the CBN would put the debt issue finally to rest. On transparency and responsibility policy, Adinde said the changes, set to roll out in the coming months, will require telecom operators to provide consumers with clear, easily accessible tables outlining tariff plans, billing rates, and the terms and conditions associated with their services. Indeed, Chief Executive Officer (CEO) of MTN Nigeria, Karl Toriola had said in October that banks might be disconnected from the USSD platform due to debt arising from the use of the quick codes by their customers. Toriola had said mobile network operators (MNOs) might, subject to regulatory approval, suspend use of the service on the network for banking operations, as the debt had continued to pile up and was becoming unsustainable to the operators. Also, the executive secretary of the Association of Licensed Telecommunication Operators of Nigeria (ALTON), Gbolahan Awonuga, said in October that the debt between telecoms operators and commercial had hit N250billion. Earlier, the telcos had lamented that they could no longer provide the services free, proposing a cut of N4.50k per 20 seconds from the charges paid by customers to the banks. But the banks kicked against this, adding that it would raise costs by 450 percent. Related Topics: CBN NCc Promoted Don't Miss NCC moves towards digital justice You may like NCC moves towards digital justice Nigeria’s AuGF uncovers N197.72bn contract fraud in CBN, REA, NBET, other MDAs ARO DAY 2024: Foremost Nigeria-born South African preacher to storm Arochukwu for Light of the World Crusade CustomWritings’ Professional Help with Quality PPT for Academic and Career Success Get Ready to #BeatTheDrop as Coke Studio 2024 Unleashes Next-Level Music, Culture, Rewards Zenith Bank rewards Hackathon Winners with N77.5m cash prize at Zenith Tech Fair 4.0 Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media Ltd
What we learned as Warriors' late-game woes continue in loss to Nets
Construction partners SVP Robert Flowers sells $2.53m in stock
Baker Mayfield throws for 3 TDs, Bucs take over 1st in NFC South with 28-13 win over Raiders
The list of President-elect Donald Trump's legal cases is shrinking — or being delayed. On Monday, Special Counsel Jack Smith filed a motion to dismiss the Washington, D.C. election subversion case. He also asked a federal appeals court to stop reviewing the classified documents case in Florida. On Tuesday, that court granted dismissal of the case against Trump — though not against other appellees. In dismissing the cases, the Special Counsel cited the Department of Justice's long-standing policy of not prosecuting sitting presidents. "After careful consideration, the Department has determined that OLC's prior opinions concerning the Constitution's prohibition on federal indictment and prosecution of a sitting President apply to this situation and that as a result this prosecution must be dismissed before the defendant is inaugurated," Smith wrote in his court filing regarding the election subversion case. "We've used the word unprecedented a lot over the course of the last four years, and yet again this is something that is unprecedented, and Smith himself said this in his motion," former state and federal prosecutor David S. Weinstein told Scripps News. "He took great detail to point out that this was not based on the strength or weakness of the case." In a post on Truth Social , Trump said in part "These cases, like all of the other cases I have been forced to go through, are empty and lawless." RELATED STORY | Special counsel evaluating how to wind down federal cases against Trump Earlier this year, Trump faced four on-going criminal cases. He was convicted in his New York hush money case in May, but sentencing — which was scheduled for this week — has been delayed . After Smith's actions Monday, Trump now faces only the Georgia election interference case. In Georgia, Trump was indicted along with 18 allies, accused of trying to overturn the 2020 election results in the state. But that case is now on hold after the state appeals court unexpectedly removed a December hearing from its calendar. That court will issue a new order on how this case will move forward, but with less than two months before the inauguration, the future of the Georgia and New York hush money cases are still being decided. "The two state cases are likely to recede into the background — at best," former Department of Justice attorney and current partner at Gelber, Schachter & Greenberg, Barbara Llanes, told Scripps News. "We probably won't hear much about these cases following the inauguration of President-elect Trump." Defense attorneys for Trump believe his election victory is enough for the hush money case to be dismissed. They need to file a motion by Dec. 2 making that argument. Then prosecutors have until Dec. 9 to file a rebuttal. They still believe Trump should be sentenced — even if it's after he leaves office. Judge Juan Merchan will then make a decision on how this case should move forward. There's no set date on exactly when he will make that decision.PM Modi to throw open global cooperative conference on Monday