Commercial Banks Have Cleared USSD N300 billion Debt – Gbenga Adebayo Confirms
Commercial banks have paid off telecom operators’ over N300 billion debt for Unstructured Supplementary Service Data (USSD) services, according to the Association of Licensed Telecommunications Operators of Nigeria (ALTON).
During an official visit to Idris Olorunnimbe, the chairman of the Nigerian Communications Commission (NCC), on Thursday, the association’s chairman, Engr. Gbenga Adebayo, affirmed this.
According to Adebayo, the NCC, led by its Executive Vice Chairman, Dr. Aminu Maida, intervened to resolve the debt crisis that had persisted for more than four years.
Years of accusations and counter-accusations between the banks and telecom operators came to an end with the debt clearance.
The approval of the tariff review in 2025, according to the ALTON Chairman, was another significant milestone for the telecom sector.
He claims that despite growing inflation, currency volatility, ageing infrastructure, and rising energy costs, the industry maintained unchanged pricing for 13 years.
- “Our tariffs fell significantly below cost. Investment slowed. Networks became strained. The sector was approaching a stage where service rationing was becoming a real possibility,” he said.
Adebayo said the 50% tariff increase approval granted last year saved the industry from collapse.
- “Today, we are seeing companies gradually return to profitability. Network stabilization has improved. Capital expenditure planning has resumed,” he said
However, he pointed out that everyday fibre outages around the nation still provide difficulties for industrial operators.
Additionally, Adebayo demanded action against states’ “multiple and excessive” taxes and levies. In response, Olurunnimbe, the chairman of the NCC, stated that the organization would take all necessary steps to guarantee the telecom sector’s viability.
- “We will do what needs to be done, and I know that the channels of communication between us and NCC are very, very open. We will not close those channels.
