The House of Representatives has resolved to investigate the exorbitant amount charged by Point of Sale (POS) for withdrawal of money.

The resolution to probe the operators followed a motion moved by Mohammed Shehu on Thursday.

Mr Shehu lamented the high charges by the operators.

He stated that some POS owners charge as much as N4,000 to withdraw N10,000.

The lawmaker said POS operators are now literally selling bank notes to customers, noting that the government has the power to regulate the activities of the operators.

“There is a need for the government to utilize its relevant authorities under the Central Bank of Nigeria, Act 2007 to supervise Commercial Banks and advise on financial matters, including regulating Point of Sale operators, this will validate public confidence and address the hardships faced by citizens in Nigeria’s financial transactions,” the motion reads in part.

Following the presentation, the House resolved its Committees on Banking Regulations and, Digital and Electronic Banking should investigate.

GuruboiNaija:
The House of Representatives has resolved to investigate the exorbitant amount charged by Point of Sale (POS) for withdrawal of money.

The resolution to probe the operators followed a motion moved by Mohammed Shehu on Thursday.

Mr Shehu lamented the high charges by the operators.

He stated that some POS owners charge as much as N4,000 to withdraw N10,000.

The lawmaker said POS operators are now literally selling bank notes to customers, noting that the government has the power to regulate the activities of the operators.

“There is a need for the government to utilize its relevant authorities under the Central Bank of Nigeria, Act 2007 to supervise Commercial Banks and advise on financial matters, including regulating Point of Sale operators, this will validate public confidence and address the hardships faced by citizens in Nigeria’s financial transactions,” the motion reads in part.

Following the presentation, the House resolved its Committees on Banking Regulations and, Digital and Electronic Banking should investigate.

https://.ng/2023/12/22/reps-to-investigate-exorbitant-charges-by-pos-operators/

He stated that some POS owners charge as much as N4,000 to withdraw N10,000

GuruboiNaija:
The House of Representatives has resolved to investigate the exorbitant amount charged by Point of Sale (POS) for withdrawal of money.

The resolution to probe the operators followed a motion moved by Mohammed Shehu on Thursday.

Mr Shehu lamented the high charges by the operators.

He stated that some POS owners charge as much as N4,000 to withdraw N10,000.

The lawmaker said POS operators are now literally selling bank notes to customers, noting that the government has the power to regulate the activities of the operators.

“There is a need for the government to utilize its relevant authorities under the Central Bank of Nigeria, Act 2007 to supervise Commercial Banks and advise on financial matters, including regulating Point of Sale operators, this will validate public confidence and address the hardships faced by citizens in Nigeria’s financial transactions,” the motion reads in part.

Following the presentation, the House resolved its Committees on Banking Regulations and, Digital and Electronic Banking should investigate.

https://.ng/2023/12/22/reps-to-investigate-exorbitant-charges-by-pos-operators/

Ofunaofu:


There's no Naira redesign policy but we're experience the same cash scarcity Emefiele was crucified for

Buharidgeneral:

Investigate pos operator what about CBN that didn't supply enough cash

GO0DHardDick:
E_diots everywhere

I thought Tinubu miscreants said emefiele was the problem and was hiding and withholding cash flow in the country? Now another CBN governor is in charge the e-diot monumental failure is still blaming Emefiele till date