CBN Moves PoS Geo-Fencing Deadline To August
By Babatunji Wusu The Central Bank of Nigeria (CBN) has moved the strict deadline for the mandatory tracking of Point of Sale terminals to August 1, 2026. Alongside this extension,…
POS OPERATORS EXPLAIN THE REVIEW AND ANNOUNCE HIGHER CHARGES.
Tunji Wusu – The recent increase in Point of Sales (POS) transaction fees, according to the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), is a reflection of…
POS OPERATOR IS CHARGED BY POLICE WITH FRAUD TOTALING N891,000
Ayoola Seun, an employee of a point-of-sale system, 33, was charged by the police on Tuesday before an Ota Magistrates’ Court in Ogun State with allegedly defrauding a business of…
POS OPERATORS AND OTHERS WHO CHARGE UNREASONABLE FEES WOULD BE DETAINED AND PROSECUTED, THE CBN PROMISES.
The CBN has threatened to pursue legal action against Point of Sale (PoS) providers that overcharge for transactions in an effort to take advantage of the country’s present cash shortage.…
WHILE GUNMEN ARE SHOOTING AT POS OPERATORS IN BAUCHI, GOV. BALA VISITS THE VICTIMS.
Bala Mohammed, the governor of Bauchi State, visited the victims who were hurt in an attack by unidentified gunmen who are believed to be armed robbers on several POS operators…
THE CBN INSTRUCTS BANKS TO ISSUE NEW NAIRA NOTES.
The Deposit Money Banks (DMBs) in Zamfara have been warned by the Central Bank of Nigeria (CBN) to provide the new naira notes to Point of Sale (POS) operators immediately…
NEW NAIRA NOTES ARE SURCHARGED BY POS OPERATORS.
The new naira notes are generating strong business for some Point of Sale (PoS) businesses in satellite towns of the Federal Capital Territory (FCT). The Central Bank of Nigeria (CBN)…
Despite transaction failures, the use of PoS will increase.
In order to accommodate new entrants into the digital banking industry, the deployment of point of sale (PoS) machines will increase in the upcoming months. Despite difficulties, a large number…
Endsars: Banks In Ekiti Town Shut Down Over Alleged Police Withdrawal
By Williams Menyonwa- Commercial banks in Ikere-Ekiti, the headquarters of Ikere Council Area of Ekiti State were shut down on Tuesday following the alleged withdrawal of service by policemen. Thepremier …
