Economy

PoS Operators Says ‘No Going Back on New Charges’

By Web News 579

The National Public Relations Officer, Association of Mobile Money and Bank Agents in Nigeria, popularly called PoS operators,Oluwasegun Elegbede, has said its members have no intention to revert to old prices charged for services.

PoS agents under the association recently announced increases in the cost of PoS transaction costs and began the implementation of the new prices on Monday.

Following the move, the Federal Competition and Consumer Protection Commission moved to stop the PoS transaction charges.

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 newsmen that the commission was ready to issue an order to bar PoS from continuing with their action.

Punch / Oluwayemisi Owonikoko

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Crime

POS Operators Meet Police over Fraudulent Practices

By Web News 540

Fraudulent Point of Sales, POS operators have caused untold hardship to innocent Nigerians, thereby affecting the POS business.

Worried by this development, the Association of Point of Sales Users in Nigeria (APOSUN) has sought the collaboration of the Police to halt fake POS operators and fraudulent financial transactions across the country.

The Chairman Board of Trustees, Ibrahim Abdullahi during advocacy to the FCT Commissioner of Police in Abuja, stressed the need for all (POS) points to be duly registered.

Mr Abdullahi pointed out that most of the POS machines were being managed by private financial companies, instead of commercial banks.

He expressed optimism that with the support of the Police and information sharing, fraudulent actors in the business could be traced.

“The Association is concerned with working with security and financial institutions to bring about sanity in the POS business to make the operators and users have safer financial transactions in any location,” Abdullahi said

FCT Commissioner of Police, Sunday Babaji pledged to give the Association the necessary support to sanitize the sector.

Similarly, the Grand Patron of the Association, Sani Zangon Daura commended the move by the police to bring sanity into the operation of POS business.

Remi Johnson/ Adeniyi Bakare