CBN threatens sanctions against POS agents charging above N200

The Governor of the Central Bank of Nigeria (CBN) has warned that Point of Sale (PoS) operators who charge above N200 for the cash swap programme will be arrested and jailed if caught.

The Director, Governor’s Department, CBN, Joseph Omayuku, stated this while briefing journalists in Yenagoa, Bayelsa State.

Omayuku said the PoS operators sell naira notes for naira notes to buyers.

This is amidst the rejection of online payments by some business operators, including petrol stations and supermarkets.

“The operational arrangement for payment agents is that they take a commission for transactions and this commission is not more than N100 or N200 for transactions of up to N10,000.

“But we have heard of cases where people are being charged N1,000 or N2,000.

“This is certainly fraudulent; this is a rogue operation.

“So, the security agencies will be very active this week, going forward,” Omayuku said

Ekene Njoku

I am a passionate blogger, graphics designer, web designer and information researcher. Also, a media marketer

Leave a Reply

Your email address will not be published. Required fields are marked *