POS Archives » XANDERTECH TRAVELS

Abuja prohibits POS employees from working in residential areas (See Details)

March 4, 2024 by XanderTech

Owners of Point of Sales (POS) devices are required by the Federal Capital Territory Administration (FCTA) to confine their operations to commercial zones. On Wednesday, Umar Shuaibu, the Abuja Metropolitan Management Council (AMMC) Coordinator, issued the instruction. According to Shuaibu, the administration would not let businesses to occupy critical sites forcibly. The official claimed that … Read more

Due to high fees, the CBN will revoke the licenses of POS operators

March 3, 2024 by XanderTech

On Tuesday, the Central Bank of Nigeria (CBN) made the announcement that it would revoke the licenses of Point of Sale (PoS) representatives who were found to have inflated the fees charged to customers who made withdrawals from POS machines in the state. The Daily Trust reports that for every N5,000 to N10,000 that a … Read more

Due to a lack of naira, 50% of POS operators shut down stores

March 3, 2024 by XanderTech

It has been reported that more than half of Point of Sale operators have shut down their businesses as the shortage of new and old naira notes gets worse. This was made public on Monday by Hussein Olanrewaju, the national chief aggregating officer of the Association of Mobile Money and Bank Agents in Nigeria. He … Read more