Tag: PoS

Banking

Withdrawal limit: PoS agents not endangered by new policy, says CBN

The Central Bank of Nigeria has debunked claims that its new policy limiting cash withdrawals is targeted at point-of-sales agents.   Recall, that the apex bank, earlier in December, announced that it was planning to set weekly withdrawal limit at N100,000 for individual and N500,000 for organisations.   The CBN’s Director of Banking Supervision, Mustafa […]

PoS transactions hit N8trn in 2022 - NIBSS
Banking

PoS transactions hit N8trn in 2022 – NIBSS

Recent data from the Nigeria Interbank Settlement System showed that the value of Point of Sale transactions in Nigeria has risen by 39 per cent to N8.03tn in 2022. According to The Punch, PoS transaction from July 2020 to Punch, PoS was estimated at N5.7trn, but between July 2021 and July 2022, it rose to […]

PoS transactions hit N8trn in 2022 - NIBSS
News

PoS operations boom in urban neighbourhoods amid rising challenges

The Central Bank of Nigeria’s Vision 2020, released in 2007, was a calculated move by the apex bank to create a robust financial framework and promote a cashless economy in the country. The CBN launched the programme officially in September of 2013 as its response to the growing financial pressures on the banking systems, leading […]