CBN Bars Agents From Using Pos Terminals For Transactions - Business

CBN Bars Agents From Using Pos Terminals For Transactions - Business - Nairaland

Nairaland Forum › Nairaland General › Business › CBN Bars Agents From Using Pos Terminals For Transactions (68845 Views)

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CBN Bars Agents From Using Pos Terminals For Transactions by domack99(op): 6:13pm On Mar 15, 2023

The Central Bank of Nigeria (CBN) has barred agents from using Point of Sale (PoS) terminals meant for merchants to carry out cash-in and cash-out transactions.

The apex bank disclosed this in a circular announcing the Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria.

According to the CBN, the agent banking initiative has resulted in the proliferation of financial services agents across Nigeria, resulting in a significant and growing portion of financial transactions being conducted through the agents.

Section 8.3 of the guidelines which highlighted prohibited activities for agents stated: “An agent shall not accept deposit or allow withdrawal above an amount which shall be prescribed, from time to time by the bank.
“Use the wrong option for transactions e.g agents shall not use the purchase option PoS Terminals for cash in and cash out transactions.”

https://www.vanguardngr.com/2023/03/cbn-bars-agents-from-using-pos-terminals-for-transactions/

9 Likes 2 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by ManirBK: 6:35pm On Mar 15, 2023

Ano even understand.. Those English used were too emefelized to my understanding huh

But what we all knew this is pay back time but it has good and bad effect during this period huh

240 Likes 12 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by ManirBK: 6:43pm On Mar 15, 2023

Another vawlence suffering prepared huh

23 Likes 8 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by tbobuneo(m): 8:16pm On Mar 15, 2023

Our 9ja with everyday drama, Okay POS in my Village helps some! to get Cash instead of going on a long journey to main town. Why would our leader push us this hard, like they literally don't care😔 POS business has put food on their table, for families and now you want to make some fellow Nigerians Cry...🤔 This is not Fair.

46 Likes 3 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Beremx(f): 8:20pm On Mar 15, 2023

Emefiele kukuma kee us o!! This devil and his policies want Nigerians to start a revolution. What manner of wickedness is this abeg?

ENDSARS 2.0 loading....
😡😡😡😡😡😡

123 Likes 14 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Walai(m): 8:22pm On Mar 15, 2023

Make it no be what I'm thinking?
Buhari 3.0 reloaded

37 Likes 4 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Obaaderemi2: 8:29pm On Mar 15, 2023

ManirBK:
Ano even understand.. Those English used were too emefelized to my understanding

But what we all knew this is pay back time but it has good and bad effect during this period

What they're saying is that particular POS terminals meant for selling of goods like the ones in supermarkets will no longer be used to withdraw or send money. They will be used only for payment of goods.

364 Likes 35 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Simeony007(m): 9:20pm On Mar 15, 2023

OK Emefiele ban everything since it doesnt affect you, your family and your clicks

7 Likes 3 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by FairlyUSEDpussy: 9:20pm On Mar 15, 2023

At least let them remain banned for now till things settle........

Stupid yahoo yahoo pos operators.........
Ntorr!!!

39 Likes 7 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by millionboi2: 9:20pm On Mar 15, 2023

What a shit
This ppl are mad

4 Likes 3 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by KOLLYPROF(m): 9:20pm On Mar 15, 2023

It doesn't change the fact that Emiefiele elemiwerey will go on exile before may 29.
Mark my words.

30 Likes 2 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by iHart(m): 9:20pm On Mar 15, 2023

They introduced cashless policy and banking halls became empty. Bank apps became sluggish and people switched to POS to make and recieve payments. Nobody is going to the banks for transactions. Banks are threatened, now they want to fight POS

67 Likes 3 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Isabi4lov: 9:20pm On Mar 15, 2023

Okay

1 Like 2 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by WonderManly(m): 9:20pm On Mar 15, 2023

Mtcheewww... Na you sabi.

2 Likes 2 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Akfrenzy(m): 9:21pm On Mar 15, 2023

SHEGE TOP TO BUTTOM 😆😆

APC I HAIL OO

4 Likes

Re: CBN Bars Agents From Using Pos Terminals For Transactions by 1Alex: 9:21pm On Mar 15, 2023

Okay

23 Likes 1 Share

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Dshocker(m): 9:21pm On Mar 15, 2023

God punish CBN

8 Likes 1 Share

Re: CBN Bars Agents From Using Pos Terminals For Transactions by southsouthking(m): 9:21pm On Mar 15, 2023

Warris this again?

6 Likes

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Rodimi20000000: 9:22pm On Mar 15, 2023

Wetin Dey sup

1 Like 1 Share

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Justpassingby45(m): 9:22pm On Mar 15, 2023

Good for them

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Stanweezy(m): 9:22pm On Mar 15, 2023

At a point this man was making sense but now he's insane

18 Likes 1 Share

Re: CBN Bars Agents From Using Pos Terminals For Transactions by factcheckmmm: 9:22pm On Mar 15, 2023

Re: CBN Bars Agents From Using Pos Terminals For Transactions by remsonik(f): 9:22pm On Mar 15, 2023

Good, cos this pos people are really using this thing to eat too much from the poor masses. I just pray that by the time naira notes is available pos don't keep to draining money from people

7 Likes

Re: CBN Bars Agents From Using Pos Terminals For Transactions by b0rn2fuck(m): 9:22pm On Mar 15, 2023

This man is stupid, things will change may 29 but that date still long.. last minute Buhari survival

8 Likes 2 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Nobody: 9:23pm On Mar 15, 2023

Cornfusion

1 Like 2 Shares

Re: CBN Bars Agents From Using Pos Terminals For Transactions by YeyeGbami: 9:23pm On Mar 15, 2023

good

Re: CBN Bars Agents From Using Pos Terminals For Transactions by Pityoobi: 9:23pm On Mar 15, 2023*

Emefiele will go to jail for all these nonsense.

This man has been perfecting the manipulation of our electoral system through satanic monetary policies to frustrate electorate and force mass revolution to hijack our democracy.

Emefiele is number one enemy of our democracy. It’s obvious he’s scheming hard for a kind of political outcome by stiffening the financial sector with draconian policies in the eves of our elections to create artificial suffering for the masses.

Today banks are struggling to survive, deposits are longer coming in and the masses now have total distrust for the banks. Many banks are at the verge of inevitable collapse without customers deposits, how do they survive.

15 Likes