MTN Nigeria has made a significant recovery of ₦32 billion from Nigerian banks as part of the outstanding ₦74 billion debt owed for Unstructured Supplementary Service Data (USSD) service charges.¹ However, ₦42 billion remains unpaid, highlighting the ongoing tensions between banks and telecom companies.
The recovery follows an intervention by the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) in December 2024, which ordered banks to pay ₦212.5 billion—85% of the total ₦250 billion owed to telcos—by December 31, 2024.
Despite this progress, the USSD fee standoff has been ongoing for several years, with banks resisting payments due to disputed charges and revenue-sharing disagreements.
The telecom sector has pushed for stricter enforcement, arguing that inconsistent payments threaten financial sustainability.
MTN Nigeria’s recovery of ₦32 billion contributed 3.1% to its service revenue, which grew by 35.9% to ₦3.3 trillion in 2024. However, the company reported a significant after-tax loss of ₦400.44 billion in 2024, primarily due to the naira’s depreciation.
