POS operators divided as new charges commenced…

A group of Point of Sales operators in Nigeria have protested against the increased service charges in the country which took effect on Monday.

The Association of Mobile Money and Bank Agents in Nigeria announced new service charges for operators in June.

The association had said the increase in service charges was to ensure Point of Sale operators survive.

With the implementation of the framework, Nigerians who wanted to deposit N1,000 and N4,900 would now have to pay a service charge of N100; N5,000 and N10,900 will attract a service charge of N200; N11,000 and N20,900 will attract a service charge of N300; N21,000 and N30,900 will attract a service charge of N400; N31,000 and N40,900 will attract a service charge of N500 and from N41,000 to N50,000 will attract a service charge of N600.

For withdrawals up to N1,000 and N2,400, Nigerians will pay a service charge of N100; withdrawal from N2,500 to N4,000 will incur a service charge of N200; withdrawal from N4,100 to N6,400 will incur a service fee of N300; withdrawal from N6,100 to N7,400 will now attract a service charge of N400; withdrawal from N7,500 to N10,900 will incur a service charge of N500; withdrawal from N11,000 to N14,400 will attract a service charge of N600; withdrawal from N14,500 to N17,900 will be subject to a service charge of N700 and withdrawal from N18,000 to N20,000 will now attract a service charge of N800.

However, the operators under the umbrella of Concerned POS Operators in Nigeria described the increase as outrageous and anti-people.

Speaking in Abuja on Monday, the Chairman of the group, Kayode Salako, said the charge hike would compound the woes of many Nigerians.

Salako also called on the Central Bank of Nigeria to review its cashless policy and increase the withdrawal limit for operators.