Despite widespread criticisms, the Association of Mobile Money and Bank Agents in Nigeria (ANMBAN) says it will be implementing the new framework for increased service charges starting next Monday.
Point-of-Sale (POS) operators say the increase in service charge has become necessary due to the country’s current economic realities.
The association has also indicated that they plan to expand the new pricing framework to the Federal Capital Territory, Abuja, and other states.
Politics Nigeria recalls that Stephen Adeoye, spokesperson of the association in Lagos, said they have created a new price list for POS agents operating in the state.
The raise has elicited criticism from Nigerians, including threats of sanctions by the Federal Competition and Consumer Protection Commission (FCCPC) and the Central Bank’s promise to intervene.
Elegbede Segun, national publicity secretary of the association, however, said that the threats of sanctions were only reported in newspapers.
He further added that the association is well-prepared to begin the implementation of the new service charge framework.
“The reactions you have seen are just on the pages of newspapers, as far as the central bank and FCCPC is concerned,” Elegbede told Punch.
