As of November last year, this amount was pegged at ₦80 billion and the telcos were set for a showdown with the deposit money banks over the accumulated debt.
The increase in the banks’ accumulated debt was confirmed by the Head of Operations of the Association of Licensed Telecoms Operators of Nigeria, (ALTON) Gbolahan Awonuga.
According to a report by The PUNCH, Awonuga revealed that the USSD debts had grown from ₦80 billion as of November 2022, to over ₦100 billion In April 2023. As of March 2022, the accumulated debt stood at ₦42 billion, an amount which has steadily grown over the months to hit over ₦100 billion as revealed by the ALTON boss.
