Point of Sale (PoS) operators in Nigeria are protesting the implementation of increased service charges, which took effect on Monday. The Association of Mobile Money and Bank Agents in Nigeria had announced the new charges in June, stating that it was necessary for the survival of PoS operators.
Under the new framework, Nigerians making deposits and withdrawals within certain monetary ranges will now have to pay higher service fees. The operators, under the Concerned POS Operators in Nigeria, expressed their discontent, deeming the charges outrageous and anti-people, adding that it will further burden Nigerians already facing hardships due to the removal of subsidies and other economic policies.
The chairman of the Concerned POS Operators in Nigeria coalition, Kayode Salako, urged the association to advocate for better conditions for PoS operators and the masses by seeking preferences from the government, such as increasing daily withdrawal limits to ease their businesses’ difficulties.
The group proposed its own service charge structure, which is more moderate, and called on the Central Bank of Nigeria to review its cashless policy and increase the withdrawal limits for PoS operators and mobile money agents through various channels.
Opinion:
The increase in service charges for Point of Sale operators in Nigeria appears to be a contentious issue, with operators arguing that it places an additional burden on Nigerians already facing economic challenges. While it is essential for businesses to thrive, there should be a balance between ensuring operators’ sustainability and not excessively burdening customers. A review of the cashless policy and an increase in withdrawal limits for PoS operators could be a plausible solution to ease the strain on both operators and customers. The government and relevant authorities should consider the concerns of both parties and find a fair and sustainable resolution.