POS

The Federal Government has announced a major overhaul of revenue collection across Ministries, Departments, and Agencies (MDAs), mandating the cessation of physical cash payments and the deployment of Point of Sale (POS)…

The Central Bank of Nigeria has directed that all Point of Sale (PoS) terminals in the country be geo-tagged within 60 days as part of measures to curb fraud and strengthen oversight of digital payments. “This initiative is designed to…

The Central Bank of Nigeria (CBN) has directed Moniepoint  Plc, among other  payment service providers to begin the tracking of all Point of Sale (PoS) transactions. In a circular to all Payment Service Providers (PSPs) on connectivity to…

The Corporate Affairs Commission (CAC) on Sunday announced a 60-day extension of the deadline for Point of Sales (PoS) operators to register as sole Agents, Super Agents, and Agents. It stated on its verified X page that the initial…

Some Point of Sale (PoS) agents in the Federal Capital Territory (FCT) have frowned at the new directive of the Corporate Affairs Commission (CAC) for them to register with the commission. The News Agency of Nigeria (NAN) reports that…

The increased service charges in Nigeria, which took effect on Monday, have been protested by a group of point-of-sale operators. Nigeria's Association of Mobile Money and Bank Agents announced new service charges in June. The…

Having survived the Naira Redesign policy that distorted business operations in the country, Point of Sales (PoS) operators have adopted a uniform fee structure that increases charges by at least 200 percent. Unlike before when customers…

Contrary to claims that the Central Bank of Nigeria (CBN) policy on naira redesign will deepen electronic transactions in the country, February data from the Nigeria Inter-Bank Settlement System (NIBSS) may have shown otherwise. In…

Business was good on Monday, February 13, 2023, for Point of Sales (PoS) operators who have now turned Naira sale to a casino with a minimum service charge of N400 for every N1,500 to N2,000 issued out to a customer. …

As the new deadline to phase out old naira notes of N200, N500, and N1,000 ends today. As Nigerians grapple with the shortage of cash under the new Naira policy, data from the Nigeria Inter-Bank Settlement System (NIBSS) indicate…