Point of Sale (PoS) operators across Nigeria have started implementing new withdrawal and deposit fees.
Some operators who spoke to TimesNow.com.ng said the changes are a response to current cash scarcity and the decision by the Central Bank of Nigeria decision to limit PoS operators’ cash withdrawals to only N100,000 daily.
Another reason given is that there is now an N50 Electronic Money Transfer Levy (EMTL) charge on every N10,000 deposit in their customers’ accounts.
Previously, PoS attendants charged N100 for transactions below N5,000 and N200 for transactions exceeding that amount.
However, Kunle Adeleye, a PoS operator in the Iyana Ipaja area of Lagos, told TimesNow.com.ng that he has increased all charges by 100%.
He said:
Another POS attendant, Helen Duru, said I have to adjust my charges due to the difficulty of getting cash.
Bidemi,d another PoS attendant, also said:
In a related development, TimesNow.com.ng previously reported that the Central Bank of Nigeria clarified that all old N200, N500, and N1,000 banknotes will remain legal tender in Nigeria alongside the new naira notes in circulation.
The apex bank has reassured Nigerians not to worry about transacting with the old naira banknotes and has cautioned against spreading fake news.
The clarification was provided by Sidi Hakama, the CBN’s acting director of corporate communications, in a statement published on its website.
Source: TimesNow.com.ng
