The Federal Government, via the Federal Competition and Consumer Protection Commission, will issue an order against Point of Sale agents’ transaction charge hikes.
The Executive Vice Chairman/Chief Executive Officer, Babatunde Irukera, confirmed this exclusively to The PUNCH on Wednesday.
DailyBrief had reported how PoS operators are divided on new charges.
The FG order follows ignored advisory to the Association of Mobile Money and Bank Agents in Nigeria. More definite enforcement is imminent.
He said, “What we did initially was to issue an advisory, which is part of the process — engagement. After which we would employ other tools of engagement. Other tools of enforcement involve issuing an order. If you hold on a little, you will see it. What we did initially was not an order, but very soon an order is coming.
“It will get to you in a matter of hours. An order is forthcoming and will be directed specifically at the association and the agents. Now, when there is a subsisting order, the violation of the order is what would precipitate enforcement.”
In July, the FCCPC began investigating PoS agents for price fixing.
It warned AMMBAN to stop fixing prices. However, AMMBAN proceeded with the price increments on July 17, 2023, despite opposition from stakeholders.
