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MTNN Clarifies Dispute Over the Reduction in Airtime Sales Commission Using Banking Channels

Mobile Money and Telcos	507 VIEWS
Mobile Money and Telcos
507 VIEWS

Thursday, April 08, 2021 / 06:04 PM / NSE / Header Image Credit: MTN

MTN Nigeria Communications Plc (MTN Nigeria) wishes to clarify the news in The media regarding dispute with banks and our customers' inability to purchase airtime using banking channels.

The sale of airtime through our banking channel partners 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 by our 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.

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 and we will continue to work towards a mutually beneficial business relationship.

MTN Nigeria's intention has always been geared towards business optimization to the benefit of our customers, shareholders and indeed the country. As a result, the good of our customers influence every decision we take. We will continue to live our values that 'everyone deserves the benefits of ad modern connected life'.