MTN Explains Role in Dispute with Banks over Airtime Sales Commission

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MTN Nigeria coming for Banks

MTN Nigeria has clarified its role regarding dispute with banks over its customer’s inability to purchase airtime using banking channels.

The sale of airtime through MTN’s banking channel partner was temporarily suspended by the banks on April 2,2021 due to a dispute over the reduction in cost of sales associated with the channel.

However, services were restored on Sunday, April 4, 2021 with customers able to access all services following the intervention of regulators.

“We have also reverted to the initial commission structure, while we engage with the banks to agree on a pricing basis that will result in the reduction in the costs and align with best international practice.,” MTN said in a statement.

“The impact of the disruption was minimal on our operations as we were able to successfully activate alternative channels to enable our customers purchase airtime and stay connected. We regard the banks and other financial institutions as valued stakeholders in our business channels.”

MoneyCentral has highlighted the increasing disputes between MTN and Nigerian banks as the Telco gradually seeks to enter the banking fintech space.

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