Lenders cut off Nigeria’s biggest telco from banking platforms
Some Nigerian lenders have cut off MTN Nigeria from their banking platforms, making it impossible for millions of customers to buy credit for their phones.
All lenders in Africa’s most populous country, except Zenith Bank, have taken MTN Nigeria off their platform, said Funso Aina, spokesman for the telecommunications company. The banks took the action after MTN reduced the commission paid to lenders for allowing customers use their platform to buy call credit, Aina said. Airtime sales are suspended through all banking channels -- banking apps, USSD codes and even debit cards. MTN is the West African nation’s biggest telecom services provider with about 79 million subscribers.
“Dear Customer, our bank recharge channels are currently unavailable. Kindly recharge using physical cards. We apologize for the inconvenience. Thank you,” according to a text message sent to subscribers on Saturday.
MTN later provided ten alternative platforms, including fintechs and its own mobile apps, that customers can use to make airtime purchases in a text message to subscribers late Saturday evening.
Banking channels are the preferred medium for many Nigerians to buy call credits on their phones because of the convenience it provides. Other telcos have not been affected by the action. The banks couldn’t be reached for comment.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
