The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has disclosed that the telecommunication companies are pushing for regulatory approval from the Nigerian Communications Commission to withdraw Unstructured Supplementary Service Data services(USSD) of Nigerian banks.

ALTON stated that the banks have owed more than N250 billion for services provided in the last six years.

The USSD service provides airtime and subscription services and has been adopted in the banking sector because it does not need an internet connection.

The chairman of ALTON, Gbenga Adebayo, disclosed that the debt payments have been a longstanding concern.

According to him, the debt has risen over time, from N80 billion in November 2022 to N250 billion.

He further encouraged banks to address the outstanding debt.

His words: "Normally, this would be a straightforward commercial transaction, but it has attracted political interest. Under regular circumstances, the contract contains clauses that would allow both parties to prepare and take action.

"However, with the political attention that has developed over time, operators now need regulatory approval before proceeding.

"The fact is, this debt must be paid. It has been delayed for too long, with ongoing discussions and questions surrounding it. What's wrong is wrong, and there's no other way to put it. This debt has been elevated and has lingered for too long."