News

PoS Operators Insist On New Transaction Charges

PoS operators are insisting on new transaction charges.

 

Glamtush reports that the National Public Relations Officer, Association of Mobile Money and Bank Agents in Nigeria, Oluwasegun Elegbede, has said its members have no intention to revert to old prices charged for services.

PoS agents under the association recently announced increases in the cost of PoS transaction costs and began the implementation of the new prices on Monday.

Following the move, the Federal Competition and Consumer Protection Commission moved to stop the PoS new transaction charges.

Speaking with The PUNCH, Elegbede said, “What has the commission done to other price increases across other sectors? We are waiting for the enforcement or the sanction.

“We want to know if it is the commission that is funding us or giving us support? We need to ask them the right questions. What are they doing as regards other segments of the economy that are also increasing prices?”

Elegbede noted that the association’s new pricing regime was operational across the country. He noted the recent increase in fuel pump prices strengthened the resolve of PoS agents to stick to the new.

He said, “Our members have started adjusting their prices. Also, they got the rude shock that pump prices have jumped up. I know a few agents are concerned about what the FCCPC is saying, but before the end of the week, and judging by the increment in prices, many will join.

“Compliance is going on, and we are making sure it is. The implementation is national. Many states have confirmed that they have announced new rates, they may not have done it in the papers, but they have.”

The Executive Vice Chairman/Chief Executive Officer, FCCPC, Babatunde Irukera, told The Punch in an exclusive interview that the commission was ready to issue an order to bar PoS from continuing with their action.

GLAMTUSH

Recent Posts

Court Dismisses Case Against #EndBadGovernance Protesters

The court has dismissed the case against #EndBadGovernance protesters.   Glamtush reports that a Federal…

2 hours ago

FG Terminates ₦740bn Abuja-Kaduna Road Contract With Julius Berger Over Non-Performance

FG has terminated the ₦740bn Abuja-Kaduna road contract with Julius Berger over non-performance.   Glamtush reports…

2 hours ago

Ekiti Chief Judge, Adeyeye, Dies At 64

Ekiti Chief Judge, Adeyeye, has died at 64.   Glamtush reports that Justice Oyewole Adeyeye,…

3 hours ago

Access Bank Wins Best Digital, Best Website At 2024 Digital Jurist Awards

Access Bank PLC has been named the 2024 Best Digital Award winner in the Commercial…

4 hours ago

Top Summary From Nigerian Newspapers For Tuesday, November 5th, 2024

The top summary from Nigerian newspapers for Tuesday, November 5th, 2024, can be accessed on…

4 hours ago

Ekiti Governor Honours Primate Ayodele’s Late Father, Names Street After Him

The governor of Ekiti state, Biodun Oyebanji has honoured Primate Elijah Ayodele’s late father by…

16 hours ago