Telecom
Telcos May Sue Banks over N130Bn USSD Debt
Association of Licensed Telecoms Operators of Nigeria (ALTON), have threatened to drag Nigerian banks to court over the unpaid Unstructured Supplementary Service Data (USSD), which has accumulated over the years and has reached N130 billion as at September this year.
Gbenga Adebayo, chairman of ALTON, who disclosed this during an interview at the weekend, said the telecoms operators decided to take the option of legal battle as the last resort, after several failed attempts to resolve the issue.
Adebayo said the issue of unpaid USSD debt was part of its submission to Dr. Bosun Tijani, minister of Communications, Innovation and Digital Economy, when ALTON visited the Minister in Abuja last week.
According to him, the Minister was displeased with the issue of unpaid USSD debt that has lingered for too long without concrete resolution, and advised Telcos to have an Independent Think-Tank that would look at the issues surrounding telecoms operations in Nigeria and develop empirical data that would best explain the economic implications of the challenges.
“The issue of USSD debt was discussed with the Minister, and he was quite concerned and worried that the matter has lingered for too long unresolved.
Since the matter has dragged for too long, the best bet is to withdraw the USSD service from the banks and challenge them to pay for the accumulated debt that has reached N130 billion as at September this year. To get this done, we are contemplating at going to court to resolve the matter,” Adebayo said.
He further said: “The issue has lingered for too long and debt accumulated, and I think it’s time to go to court to address the issue. We are thinking so because every effort made by Telcos and the government to make the banks pay their debt, has not yielded positive result. It has been like taking two steps forward and taking one step backward.”
Adebayo explained that the Telcos had a commercial service agreement with the banks, several years ago, to provide them with the USSD service that would enable seamless financial transactions like money transfers through the mobile phones, but regretted that the agreement went sour because the banks refused to keep to the agreement, which he said, had provisions for third party intervention, that includes legal action.
“The agreement permits parties to go to anywhere, including law court to resolve issues. So instead of the continuous meetings that have not yielded results, we are contemplating taking the next line of action, which is to go to court,” Adebayo said.
Adebayo had last month, said discussions were on-going and that there was increased commitment on the part of the banks to address the issue, unlike what was happening in the past when there was no commitment on the part of the banks to address the issue, which he said, led to the rise of the USSD debt to N130 billion as at September 2023.
With the introduction of Travel Saga, a premium, fast-paced gaming experience that is currently live and accessible to customers on its network, Globacom has lifted the bar for mobile entertainment in the country.
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SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.
SHELT
The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.
SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.
“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”
The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.
Meta Platforms, owner of Facebook, has appointed Dina Powell McCormick, a former adviser to President Donald Trump, as its new president and vice chairman, bolstering its leadership amid aggressive AI and infrastructure expansion.
Dina Powell McCormick
The announcement, made on Monday, positions Powell McCormick – who recently stepped down from Meta’s board after eight months – to guide overall strategy, including multi-billion-dollar investments in data centres and global partnerships.
A Goldman Sachs veteran with 16 years in senior roles and prior stints as deputy national security adviser under Trump and in the Bush administration, she brings deep finance and international ties to the role.
Meta CEO Mark Zuckerberg hailed her as “uniquely qualified” for the company’s next growth phase, while President Trump praised the move on Truth Social as a “fantastic choice”.
The hire signals Meta’s efforts to strengthen White House relations, following recent dinners with Trump and U.S. investment pledges worth hundreds of billions
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