Telecom
MTN Nigeria, Other Telcos And Banks Support NIBSS For The Relaunch Of mCash
MTN Nigeria along with sixteen banks and all major mobile telcos, came together for the Nigeria Inter-Bank Settlement Systems’ relaunch of mCASH this week.
The event held at The Orchids, Eko Convention Centre, Eko Hotel & Suites, Victoria Island, Lagos on Tuesday, July 31
MCASH, is a mobile payment system for making low-value retail payments designed to extend e-payment options to low-income buyers and sellers who deal in cash. The cashless initiative was first launched in 2016.
Speaking at the re-launch of the platform in Lagos, Ferdi Moolman, CEO, MTN Nigeria represented by the Mr Usoro Usoro, General Manager, Mobile Financial Services, MTN described the initiative as the outcome of what can be achieved when organisations work together for a common goal, to serve.
“It’s incredible how much the world has changed and continues to evolve with new ideas and technologies.
“Today, Africa is increasingly embracing new ways of payment for retail consumption and transactions.
“For those of us in the telecoms industry, this presented us with the question; how do we fully utilise all available options to provide standardised and efficient mobile cashless services for micro-payment and collections? The answer? Ladies and gentlemen is MCASH,” he said.
Mr. Adebisi Shonubi, Managing Director and Chief Executive Officer, NIBSS, said that the MCASH initiative was borne out of the need to enhance financial inclusion in Nigeria by extending e-payment benefits to payers and merchants who operate at the local levels especially the small and medium scale business owners.
“The intention is to expand the payment opportunity for people who still use cash today to find a more convenient means of making payments.
“To ensure the paradigm shift, we had to promote an ecosystem partnership consisting of banks and telecomunnication companies thereby birthing what has become a novel collaboration anywhere in the world – a service that is not one bank or one telco driven but which is ecosystem driven,” Shonubi said.
This USSD-based service delivers funds to merchants’ accounts based on USSD technology.
You can use mCASH by simply dialling *402*Seller’s code*Amount# to pay accepting merchants.
Meta may shut down its Facebook and Instagram services in Nigeria in protest against the substantial fines imposed by multiple government agencies.
The tech giant has been ordered to pay nearly $300 million in fines in Africa’s most populous nation, following regulatory demands which Meta described as “unrealistic.”
In July 2024, the Federal Competition and Consumer Protection Commission (FCCPC), imposed a $220 million fine on Meta for allegedly discriminatory and exploitative practices against Nigerian consumers.
The commission stated that Meta had failed to engage a Data Protection Compliance Organisation and had not submitted a Nigeria Data Protection Regulation audit report for two consecutive years.
Similarly, the Advertising Regulatory Council of Nigeria (ARCON), demanded $37.5 million over unapproved advertising, while the Nigerian Data Protection Commission (NDPC), announced a $32.8 million fine for an alleged data privacy breach.
Meta challenged the decisions at the Federal High Court in Abuja but was unsuccessful, as the court upheld the fines in a ruling delivered last week.
The court directed the company to comply with payment by the end of June, but Meta has indicated it may not do so, according to the BBC.
“The applicant may be forced to effectively shut down the Facebook and Instagram services in Nigeria in order to mitigate the risk of enforcement measures,” the company stated in court documents.
Responding to the NDPC’s assertion that Meta’s data processing could expose Nigerian users to health and financial risks, the company said the agency had failed to “properly interpret the laws guiding data privacy.”
Telecommunications services disrupted in Kogi State have resumed following a resolution of the dispute between MTN Nigeria and the state government, the Association of Licensed Telecoms Operators of Nigeria (ALTON) has said.
Gbenga Adebayo, chairman of ALTON, told TVC News that the issues that led to the shutdown of telecom masts in the state, primarily affecting MTN, had been addressed, paving the way for service restoration.
TVC News earlier reported that businessmen and women were counting their losses as they suffered the impact of a shut down of telecommunication service in Kogi State
Over the past two weeks, telecoms connectivity had been erratic, with competing brands experiencing glitches, particularly in the Lokoja metropolis.
The State government suspended the operations of some telecom services citing unpaid taxes and fibre-related dues.
The shutdown stemmed from a compliance dispute between MTN and the Kogi State Utility Infrastructure Management and Compliance Agency, which accused the telecom giant of violating operational rules and under-declaring the extent of its optic fibre network coverage in the state.
The protracted Unstructured Supplementary Service Data (USSD) debt misunderstanding between the Deposit Money Banks (DMBs) and telecommunications operators appears to have been resolved.
This was confirmed by the Chief Executive Officer of MTN Nigeria, Karl Toriola, Thursday, March 1, when he appeared on Arise TV to speak on the firm’s first-quarter 2025 result, where the telecommunications company reported over N1 trillion in revenue earnings.
Recall that the USSD debt had been a major issue between the DMBs and telcos and had lasted for about five years.
In the third quarter of 2024, the telcos had threatened to withdraw their service over the lingering debt, which was around N200 billion at the time. This led to the swift intervention of the Central Bank of Nigeria and the Nigerian Communications Commission (NCC), and an agreement was reached on payment.
As of November 2024, the NCC put the debt at N160 billion. However, earlier this year, when it appeared the banks were not forthcoming with payments, the NCC directed the telcos to withdraw the USSD services from debt-owning DMBs, where about 18 banks were listed.
This directive prompted the banks to look inward and start to comply with an earlier circular signed by the CBN and NCC, which articulated the payment patterns for the debt.
Speaking, on Arise TV this morning, May 1, Toriola confirmed that the matter has been fully resolved and that banks have made payments.
“I can confirm that the matter has been fully resolved. We have received payments in full. Special thanks to the CBN, NCC, the banks, and other stakeholders that intervened in the matter,” the MTN CEO stated.
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