MTN Nigeria rejigs airtime pricing as dispute with banks resolved
Local lenders had cut off the telecoms giant from their platforms after MTN reduced commissions
Lagos — MTN Nigeria has implemented a new pricing framework for airtime purchases through banks in a bid to resuscitate a lucrative payment service disrupted by a dispute with lenders in Africa’s largest economy.
Under the new pricing structure, which started in July, each transaction is billed at 6.98 naira ($0.02) as agreed with banking and telecommunications regulators in the West African nation. Even though this is expected to cause an initial slowdown in the use of unstructured supplementary service data (USSD) channels by customers, it will normalise in a few months, MTN Nigeria CEO Karl Toriola said on investor call on Monday...