PoS Operators Protest New Charges A group of Point of Sales operators in Nigeria have protested against the increased service charges in the country which took effect on Monday. The Association of Mobile Money and Bank Agents in Nigeria announced new service charges for operators in...

Cash Crunch: Nigerians Lament Exorbitant PoS Charges, Poor Network  By Idris Umar Feta As the ongoing cash crunch continues to bite harder, Nigerians have condemned the poor network that makes online banking difficult and the exorbitant charges they have to pay to get cash from Point...

PoS Transactions Rise By 40%, e-payment Hits N39.58trn – NIBSS Naira’s scarcity caused by the Central Bank of Nigeria’s redesign and cash withdrawal policy has pushed Point of Sales transactions to N807.16bn in January 2023. This is a 40.69 per cent year-on-year increase from the N573.72bn...

CBN Advises Customers to Avoid Bank Queues, Visit PoS Agents The Central Bank of Nigeria has urged bank customers not to panic ahead of the January 31, 2023 deadline for the circulation of old N200, N500 and N1,000 notes. CBN’s Director of Internal Audit Department, Lydia...

Cash swap: CBN Excludes Abuja, Lagos PoS Operators Abuja and Lagos Mobile money/Point of Sales agents have been excluded from the Central Bank of Nigera's newly launched cash swap programme. CBN outlined some guidelines for the cash swap programme in a Frequently Asked Questions' document. The development...

PoS Transactions Drops by 2% to 85.2m The Nigerian Interbank Settlement System (NIBSS) recent data has indicated that the volume of Point of Sales (PoS) transactions fell Month-on-Month (MoM) by two percent to 85.2 million in December 2022 from 86.7 million in November. However, the value...