Glamtush reports that the Federal Government of Nigeria through the Federal Competition and Consumer Protection Commission (FCCPC) has barred PoS operators in Nigeria from implementing the recently announced increase in charges for PoS transactions.
While noting that the FCCPA frowns at price fixing by any trade group in Nigeria, Irukera said:
However, the same FCCPA copiously and extensively limits the scope and extent of such collaboration, particularly to exclude coordination with respect to the scope or supply of services and price of services.
The FCCPA expressly prohibits any price-fixing or agreement among undertakings (whether bilaterally or multilaterally) or by undertakings acting in consensus on the platform, or under the aegis of an association to fix prices, coordinate supply or any other commercially sensitive factors that can limit or substantially prevent competition; or otherwise distort the market.
Irukera urged consumers to provide useful and credible information that can assist investigation and enforcement in this regard.
The Association of Mobile Money and Bank Agents In Nigeria (AMMBAN) had on Friday announced a unified price for PoS operators in Lagos.
The spokesman of the Lagos Chapter of AMMBAN, Stephen Adeoye, while giving the details of the unified price list for POS transactions on Channels TV, said:
He explained that for withdrawals up to N1,000 and N2,400, Nigerians are expected to pay a service charge of N100 while from N2,500 to N4,000, it is N200.
Withdrawals from N4,100 to N6,400 will incur a service fee of N300 while N6,500 to N7,900 is N400 and N8,000 to N10,900 will pay N500.
Adeoye said withdrawals from N11,000 to N14,400 will attract a service charge of N600 while N14,500 to N17,900 will cough out N700 and N18,000 to N20,000 will now pay N800.
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