Yesterday's talks between the baking partners and MTN Nigeria over the disputed settlement over airtime sales commission with USSD did not turn into a harmonious settlement. According to Nigerian news headlines today online, MTN stated that the unde...
Yesterday's talks between the baking partners and MTN Nigeria over the disputed settlement over airtime sales commission with USSD did not turn into a harmonious settlement.
According to Nigerian news headlines today online, MTN stated that the undertaken restructuring was according to the best practices and global standards as marked along with the distribution channels. The parties had their scheduled meeting yesterday however the grey areas still to be resolved, even after the telecom operators apologized for the restrictions that happened during the Easter break.
Oops! This image does not follow our content guidelines. To continue publishing, please remove it or upload a different image.
Karl Toriola, MTNs Chief Executive Office signed a letter which was addressed to Herbert Wigwe, Body of Banks CEO Chairman, also CEO of Access Bank, indicated that the meeting took place on Tuesday. It was planned for yesterday and was inconclusive. It was agreed that the bank can fall back by a 4.5% commission on the status quo in the attempt to resolve the current recharge impasse of the USSD. Toriola also said that MTN Communications Nigeria Plc and the banks have a discussion on cost reduction and various related options on April 6, 2021.
In regards to the dispute over bank channel partners and channel network expansion, MTN further announced that the services provided to the customers were reestablished on April 4, 2021, after the temporary suspension of MTN products sales through the bank channel partners on April 2, 2021. This agreement was formed on the fact that MTN will revert to the previous distribution cost structures with its banking partners till the time a decision is made on the long-term agreement of a justifiable pricing structure.
MTN participated in numerous meetings since April 6, 2021, to decide on its long-term pricing structure after the intervention of the Communications Commission of Nigeria, The Ministers of Communications and Digital Economy, and the Central Bank of Nigeria. A market update will be provided once the discussion is over. The streamlining provided by MTN parallel the best practices and international standards, as this scaling takes place along with the distribution channels.
MTN is confident that its banking sector partners work with them to make sure that the process is completed as soon as possible which will further benefit the industry. Also, MTN tanked its customer for their patience and regrated the inconvenience caused to them when they were submitting bank channels offline.
MTN has started new channel partnerships with Fintech to expand its channel range for sales network it will continue to exist. As per the industry sources, MTN is still working on its mission to reduce its commission associated with Fintech platforms that offers similar service to the consumers.
Stay updated with Breaking Nigeria sports News and more Nigerian as well as international news only at Nigeriastack.
