The Central Bank of Nigeria (CBN), Nigerian Communications Commission (NCC), telecommunication firms as well as banks are scheduled to meet in Abuja to resolve the N42billion Unstructured Supplementary Service Data (USSD) debt.
The lingering debt issue between the telecom operators and the banks has generated concerns among stakeholders.
Telecom operators had announced that they would stop banks from using USSD and other financial institutions by yesterday.
However, the Executive Vice Chairman, NCC, Prof Umar Garba Danbatta said on Monday that the issue was being resolved as a meeting had been summoned to address it.
Danbatta spoke during a question and answer session at the Virtual World Consumer Day briefing at NCC headquarters in Abuja.
He said: “The banks are the major beneficiaries of the (USSD) code. We were hoping that an agreement on the sharing formula was going to be in place after the service was introduced.
“That telecom operators whose infrastructure is being used and the banks should have a kind of sharing formula: how much is to be given to telcos and how much is due to banks. ‘’
