Amidst the ongoing cash scarcity, Nigerians on Christmas eve scrambled to get cash as Automated Teller Machines (ATMs) of banks ran dry whilst banking agents, popularly known as Point of Sale (PoS) operators took advantage by hiking charges. According to a survey by Leadership in Lagos, PoS operators were charging between N800 and N1,000 for customers withdrawing N20,000 while customers …

Point of Sale agents in Lagos State will soon begin to charge customers N500 for N10,000 cash withdrawals. This is after the Association of Mobile Money and Bank Agents in Nigeria, Lagos Chapter, announced a new price list for PoS transactions on Channels Television’s Business Morning programme by the Public Relations Officer, Lagos Chapter, Stephen Adeoye, on Friday. According to …

A 33-year-old Point of Sale (PoS) operator, Ayoola Seun was on Tuesday arraigned by the police before an Ota Magistrates’ Court in Ogun State for allegedly defrauding a company of N891,000. The prosecutor, Inspector E. O. Adaraloye told the court that the defendant committed the offences on 20 October 2022 around 10:00 am. Seun was said to have committed the …

The Central Bank of Nigeria (CBN) has vowed to prosecute Point of Sale (PoS) operators who take exorbitant charges on transactions. At a meeting with members of the diplomatic corps on Tuesday, CBN Governor, Mr Godwin Emefiele said that, while he acknowledged the inconveniences caused by the Naira redesign policy, including hoarding and an elevated agitation, the bank would seek …

The Lagos State Police Command has warned operators of Point-of-Sale (PoS) terminals around Police stations to desist from alleged collaboration with officers who are in the habit of extorting innocent citizens. In a series of Tweets on his verified Twitter handle, the Command’s Public Relations Officer, Suprentendent of Police Benjamin Hundeyin said that the presence of the PoS operators had …