The Association of Mobile Money and Bank Agents in Nigeria’s national public relations officer, Oluwasegun Elegbede, has demanded new service charge prices.
The association’s PoS agents recently disclosed hikes in the cost of PoS transaction expenses and began implementing new prices on Monday.
However, the Federal Competition and Consumer Protection Commission then took measures to halt the PoS transaction fees.
Elegbede stated: “We would like to know if the commission is supporting or funding us, what actions are they taking in light of other economic sectors that are also experiencing price increases?”
Elegbede pointed out that the association’s new price structure was in effect nationwide. He observed that the recent increase in petrol costs had made PoS agents more determined to adhere to the regulations.
“Our members have begun adjusting their prices,” he said. Additionally, they experienced the unwelcome shock of rising pump costs. I am aware that some agents are apprehensive about what the FCCPC is stating, but many will join by the end of the week, going by the increase in pricing.”
“Many states have acknowledged that they have introduced new rates; they may not have done so in the media’s coverage, but it is already effective.”
