The lingering rift between banks and telecos may take a deeper turn, as banks plan to dump altogether the use of Unstructured Supplementary Service Data (USSD) banking following its suspension by the Association of Licensed Telecoms Operators of Nigeria (ALTON) over the N120 billion debt owed by banks.
Mr. Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company (GTCO), opposed the notion that continuous use of USSD for transactions would strengthen Nigeria’s cashless policy as pursued by the Central Bank of Nigeria (CBN).
