Consumers kick as POS Operators Hike Charges   Operators of Point-of-Sale (PoS) terminals raised their charges on Monday in line with the implementation of the Electronic Money Transfer Levy of N50 by the Federal Inland Revenue Services charged on any electronic inflow of N10,000 and above. Several...

PoS Operators Blame Double Transaction Charges on Cash Scarcity   Point of Sale (PoS) operators in Nigeria have raised transaction fees by over 50 per cent, attributing the increase to severe cash scarcity caused by banks rationing withdrawals. With yuletide and end-of-year holidays fast approaching, Nigerians may...

CBN Orders PoS Operators to Register With CAC, Gives Two Month Ultimatum The Central Bank of Nigeria (CBN) has ordered all Point-of-Sale operators in the country to register their businesses with the Corporate Affairs Commission (CAC) in two months. This was revealed after a meeting between...

FCCPC Says PoS Operators Risk Three Months Imprisonment over Price Fixing The Federal Competition and Consumer Protection Commission has said Point of Sale operators caught for price fixing risk three months jail term. This is as it issued a cease-and-desist order to PoS operators from conduct...

New Naira: CBN To Withdraw POS Operators License Over High Charges   The Central Bank of Nigeria (CBN) yesterday said it would withdraw the licenses of Point of Sale (PoS) agents found culpable of inflating the charges on customers who withdraw money from their POS in...

As Deadline Approaches, PoS Operators Surcharge for Redesigned Notes The Central Bank of Nigeria (CBN) has fixed January 31 as the deadline for the use of the old naira notes. However, there have been appeals from various quotas to the CBN to extend the deadline...