Nigerian Banks Deny Owing MTN Nigeria and Other Telcos
- Telcos, banks disagree over pricing for payment networks
- Access Bank growing USSD-based transactions to boost income
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Nigerian banks are not indebted to MTN Nigeria and other phone companies for using telecommunication platforms to provide payment services, a bank chief executive said.
“There is no such thing as an obligation due from banks to telcos,” Herbert Wigwe, chief executive officer of Access Bank Plc, said on an investor call in Lagos. “We chose not to make a public statement out of it because it is not appropriate for us to be found fighting with telcos in public,” he said Thursday.