The Nigerian government Sunday intervened in the feud involving MTN, leading to the lifting by banks, the ban on the company’s airtime sale.
Nigerian banks had on Friday, barred MTN from using their USSD platform to conduct business as both sides scuffled over airtime sales fees.
The three-day-long feud started after MTN, which has the biggest share of Nigeria’s telecoms market, reduced the rate it pays banks for each transaction from 4.5 per cent to 2.5 per cent.
The lenders removed the telecom giant from their platforms, disallowing MTN users from accessing their bank accounts to recharge their phones.
As subscribers expressed their frustration, MTN advised them to seek alternative ways of recharging.
Service resumed Sunday afternoon after MTN agreed to revert to “status quo” at the request of the Minister of Communications, the Nigerian Communications Commission and the Central Bank of Nigeria while a permanent solution is being worked out.