POS Operators Insist On New Charges

Oluwasegun Elegbede, the national public relations officer for the Association of Mobile Money and Bank Agents in Nigeria, has stated that the organization’s members have no intention of returning to the previous system of service pricing.

The association’s PoS agents recently disclosed hikes in the pricing of PoS transaction expenses, and the new prices went into effect on Monday.
The Federal Competition and Consumer Protection Commission then took measures to halt the PoS transaction fees.

What has the commission done about other pricing hikes across other industries, Elegbede asked The ANAEDOONLINE? We are awaiting the sanction or enforcement.

“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?”

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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.

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