Are you one of the Point of Sale (PoS) operators charging your customers outrageous rate over each transaction, then get prepared.
As Pos operators continue to exploit Nigerians, inflating charges above the approved Central Bank of Nigeria (CBN), rate, the apex bank has promised to deal with any PoS Agent found culpable.
Not many Nigerians are aware that there is an approved charge.
The CBN explained that the approved charge rate for every ₦5,000 is N100 and anything above that by agents, amounts to punishing Nigerians.
Meanwhile the PoS operators have been charging between ₦1000, ₦1,500, and ₦2000 for every ₦5000 and ₦10,000 withdrawn by customers and ₦300 for ₦1000.
In fact, there is a free ride for all operators happening now.
Also read: New Naira: Why POS Operators May Peg Withdrawal At ₦10,000
Reacting, to the development, the CBN’s Director of Risk Management department, Blaise Ijebor, said: “We at the CBN know that PoS operators engage in sharp practices by charging more than 30% before giving out money”.
He therefore declared that the apex bank will not hesitate to revoke PoS Agents’ licenses.
“We are monitoring the situation; anyone caught would have his or her license withdrawn and would not be in the business because we are going around with the Economic Financial Crimes Commission (EFCC).
Blaise said the bank is already working with various state governments to ensure the availability of cash in circulation.
