PoS operators call FG’s bluff, implement new service charge
Despite criticisms and threats by the federal government, the Association of Mobile Money and Bank Agents in Nigeria (AMBBAN) has said the economic realities in Nigeria has made it necessary for its members to begin the implementation of the proposed new service charge across Nigeria on Monday, July 18, 2023.
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The development comes as AMBBAN indicated interest in extending the implementation to the Federal Capital Territory and other states.
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Legit.ng broke the news of the intention of the members of AMMBAN in Lagos to hike their charges.
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The move caused an uproar among Nigerians, prompting the Federal Competitions and Consumer Protection Commission (FCCPC) to bar AMMBAN members to halt the proposed hike in new charges.
The Central Bank of Nigeria (CBN) also intervened in the issue. Punch reports that the National Publicity Secretary of AMBBAN, Elegbede Segun said threats and sanctions were just on the pages of new papers, stating that AMBBAN members are prepared to commence the implementation.
He said: “The reactions you have seen are just on the pages of newspapers, as far as the central bank and FCCPC is concerned,” Elegbede said on Friday.
Mobile Money and Bank Agents in Nigeria (AMMBAN), Lagos State Chapter has released a unified price list (charges) for Point of Sales (POS) operations in the State.
The price list was unveiled at the 4th Annual AMMBAN Lagos Symposium themed “the impact of cashless policy on mobile money & agency banking.
Abiodun David, the chairman of AMMBAN Lagos State Chapter, said the new price list is aimed at curbing extortion by POS agents on the general public and is also a reflection of the present economic situation in the country.
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