Telecom

Nigerian Banks Suspend MTN Airtime Sales

According to recent reports, banking platforms, excluding Zenith Bank, have removed MTN Nigeria from their banking platforms. This action comes after MTN, the West African nation's biggest telecoms services provider with 79 million subscribers, reduced the commission paid to the lenders for allowing MTN customers to use their platform to buy airtime.

Funso Aina, the spokesman for the telecommunication company, has confirmed the reports, stating that all lenders in Nigeria have taken MTN Nigeria off their platforms, making it impossible for customers to purchase airtime for their phones. All airtime sales have been suspended through all banking, including banking apps, USSD codes and debit cards, and added Aina.

A text message sent to subscribers this past weekend read, "Dear customer, our bank recharge channels are currently unavailable. Kindly recharge using physical cards. We apologise for the inconvenience. Thank you."

Ten alternative platforms were later provided by the telecommunications company, which include fintech and its mobile apps that customers can utilise to make airtime purchases. Banking apps, USSD codes and debit cards are the preferred means to purchase call credits for many Nigerians as it is the most convenient method.  Other operators have not been affected by the suspension. Thus far, no comment from the banks has been reported.





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