“This Is What We Stand For”: Another POS Operators Group Announces Cheaper Charges for Withdrawals
- A different group of PoS operators has proposed a new price list for withdrawals which they believe is fair
- The new price list is different from what was announced by the Association of Mobile Money and Bank Agents in Nigeria
- The PoS operators believe that the new charges better reflect the current economic situation Nigerians are experiencing
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A new group of Point of Sales (POS) operators in Nigeria has proposed new charges for withdrawal and deposit.
In a press statement, the group, under the aegis of Concerned POS Operators in Nigeria, described the charges earlier announced by the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) as too outrageous.
Source: Facebook
They believe the new price list reflects the socioeconomic challenges that Nigerians are currently experiencing, Punch reports.
The statement reads:
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“The attention of the Concerned POS Operators in Nigeria has been drawn to the statement and list of price charges released by the Association of Mobile Money and Bank Agents in Nigeria that Nigerians who have suffered a lot of attacks through the removal of subsidy and other anti-people policies that want to deposit and withdraw should pay more.
“Concerned POS Operators in Nigeria is a coalition of POS operators and owners; we stand for the improved condition of our members and also advocate fair practice by financial service providers and POS operators.
“In lieu of this, we have organised a national meeting and agreed to stand in solidarity with Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) but also opposed the new price list set by the Association of Mobile Money and Bank Agents in Nigeria.”
New recommended PoS price list
Here is the new price list proposed by concerned POS Operators in Nigeria.
| Transactions | charges |
| From N1,000 to N5,000 | N100 |
| From N5,100 to N10,000 | N200 |
| From N10,100 to N15,000 | N300 |
| From N15,100 to N20,000 | N400 |
The statement continues:
“We in the Concerned POS Operators in Nigeria think that these charges are moderate and it will help ordinary people.
“We stand in solidarity with Nigerian suffering people in this period of hardship, and we think it will be satanic and unforgivable to add more outrageous prices.
The concerned POS Operators' new charges are different from the earlier ones proposed by AMMBAN below:
| Transaction amount | Charges |
| N1,000 and N2,400 | N100 |
| N2,500 and N4,000 | N200 |
| N4,100 and N6,400 | N300 |
| N6,100 and N7,400 | N400 |
| N7,500 and N10,900 | N500. |
| N11,000 and N14,400 | N600 |
| N14,500 to N17,900 | N700. |
| N18,000 and N20,000 | N800 |
CBN issues 4 new directives to Access, Zenith, GTB on domiciliary bank accounts
Meanwhile, in another report, the CBN has released six new directives on how domiciliary bank accounts should operate in the country.
The move is aimed at promoting transparency, discouraging speculation, and ensuring overall stability in the forex market.
Access, Zenith, and Guaranty Trust, among several other commercial banks, are expected to make the necessary adjustments.
Source: Legit.ng
