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Tag: Pos Operators

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PoS operators threaten to suspend Verve card transactions nationwide

The Association of Point of Sale Service Providers may suspend and cripple banking operations in the country if the Central Bank of Nigeria and the FCCPC fail to immediately intervene in the alleged exclusivity practice by two companies. Nairametrics reported that the Association made the disclosure in a statement signed by Yomi Idowu, Communications Consultant […]

PoS transactions hit N223tn as Nigerians shift away from ATMs
News

POS operators aiding terrorists’ ransom payments — NCTC

Nigeria’s National Counter Terrorism Centre has raised concerns over the involvement of some point-of-sale operators in facilitating ransom payments to terrorists and organised criminal groups. The National Coordinator of the NCTC, Adamu Laka, disclosed this on Tuesday during an end-of-year media briefing held in Abuja. Mr Laka, a major general in the Nigerian Army, spoke […]

CBN restricts daily limit of POS transactions to N100,000
Business featured

CAC threatens shutdown of unregistered PoS operators from Jan 1

The Corporate Affairs Commission has announced that all unregistered Point of Sale operators will be shut down starting from January 1, 2026. Furthermore, the Commission stated that financial technology firms found to be enabling illegal activities are currently on its watchlist. The CAC made this announcement in a statement released on Saturday, where it described […]

News

PoS operators to challenge CAC in court over mandatory registration

Point of sale operators in Nigeria, under the auspices of the National Association of Mobile Money and Banking Operators, said they had decided to challenge the legality of mandatory registration of its members by the Corporate Affairs Commission for its members in court. The President of the association, Fasasi Sarafadeen, decried a Directive that mandated […]

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