Point of Sale agents in Lagos State will soon begin to
charge customers N500 for N10,000 cash withdrawals.
This is after the Association of Mobile Money and Bank
Agents in Nigeria, Lagos Chapter, announced a new price list for PoS
transactions on Channels Television’s Business Morning programme by the Public
Relations Officer, Lagos Chapter, Stephen Adeoye, on Friday.
According to him, the association’s price list is to
eradicate price discrepancies in the industry.
He said, “Let me tell you the price list, N1000–N2,400 will
be N100 for withdrawal. N3500 to N4000 will be N200; N4,100 to N6,400 will be
N300; N6,500 to N7,900 will be N400; N8500 to N10,900 will be N500; N11,000 to
N14,000 will be N600; N14,500 to N17,900 will be N700; N18,000 to N2000 will
N800 for withdrawal.
“Like we said, depending on your location, you can also step
it down for people depending on the circumstances. But it should not go more
than this.”
He further stated that for deposits and transfers, agents
can now charge N100 for N1,000 to N4,900; N200 for N5000 to N10,900; N300 for
N11,000 to N20,900; N400 got N21,000 to N30,900; N500 for N31,000 to N40,000;
and N600 for N41,100 to N50,000.
Adeoye said the chairman of the Lagos chapter of the
association, David Abiodun, recently released the new price list to excos at a
symposium. He noted that the purpose of the list was to curb the activities of
agents that were still overcharging their customers.
He said, “Although, we agreed that depending on one’s area,
they can lower the charges. But it should exceed these new prices. This is why
we expect everyone to paste it in their locations so that customers can see
it.”
Commenting on how the association intends to enforce its
price list, the PRO states that it will leverage its relationship with the
police and a task force in their area of operations.
Adeoye explained, “To enforce this new price list is easy
because we have a good relationship with the Lagos State Command, Police Force,
and all the DPOs in the area. Very soon a task force will be set up in each
zone so that they will work along with it.
“Today, someone can get a PoS and start working, but we
would soon get to everyone. Registered members have a number and certificate,
and we have a good collaboration with the CBN both in Lagos and in Abuja.
AMMBAN is part of meetings around financial inclusion.
“So, enforcing this will be easy for us. We have zones in almost
all the local governments. So, our task force in each zone will locate those
who are there. We also have our website, and everyone has to register.”
In January, National President, AMMBAN, Victor Olojo, told
The PUNCH that the association did not have any plans to increase its service
charges. In February, the Central Bank of Nigeria released emergency telephone
numbers where Nigerians could report PoS agents charging above N200 for
withdrawal of amounts up to N10,000.
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