PoS
13 Jan
An Ota Magistrates’ Court in Ogun, on Monday, sentenced one Waheed Salako, 46, to three months imprisonment for obtaining N200,000 under false pretences. The convict, a POS operator, whose address was not provided, had earlier pleaded not guilty to the two-counts of obtaining money under false pretences and stealing. Delivering her judgment, the Magistrate, Mrs…
18 Dec
The Central Bank of Nigeria (CBN) has set a daily withdrawal limit of N100,000 per customer on point-of-sale (PoS) terminals. The restriction, in line with the apex bank’s ongoing efforts to advance a cash-less economy, will help address identified challenges, combat fraud and establish uniform operational standards across the industry. The restriction was contained in…
12 Dec
Point of Sale (POS) operators have been spotted in the Lekki area of Lagos State hawking new Naira notes as bank customers lament their inability to withdraw cash from ATMs. The operators charged N4,000 as a fee for N10,000 withdrawals. They displayed cash notes from N100 to N1000 for interested persons. This is coming a…
19 Nov
Many residents of Taraba State have raised concerns over what they described as exploitative practices by Point of Sale (PoS) operators, who are allegedly taking advantage of the persistent cash shortage in the state.
18 Nov
Taraba State residents are again grappling with the escalating exploitation by Point of Sale (POS) operators.
15 Sep
Kelechi Isaac, a victim of police extortion in Bayelsa State, has confirmed the recovery of the N3 million that was forcefully taken from him by officers of the Nigerian Police Force. Isaac disclosed the receipt of the funds in a WhatsApp message on Friday night, according to a report by Premium Times. "They have given…
13 Sep
The Central Bank of Nigeria (CBN) has introduced some measures targeted at checking the unwholesome practices of some point of sale (PoS) service providers in the country.
9 Sep
Point of Sale (PoS) operators, under the aegis of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), have insisted on court interpretation and ruling amid the threat of clampdown by the Corporate Affairs Commission (CAC).
7 Sep
The Corporate Affairs Commission (CAC) has said point of sale (POS) operators are not only at risk of being shut down but also face legal actions for refusing to register their businesses before the deadline. CAC said this in a statement on Friday after the expiration of the deadline. On May 6, the Commission and…
25 Aug
Nigerian artist POS is back with a bang as he releases his latest single, “Lifestyle,” on August 2, 2024. Signed to PEWL Records, this marks his second release of the year, and it’s already generating buzz for its relatable message and infectious rhythm.
31 Jul 2024
The recurring shortage of cash in the Nigerian economy and the unwholesome commoditisation of the naira, the country’s national currency, has become an issue of great concern, as it can undermine the fledgling cashless policy of government.
25 May 2024
The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has expressed concerns over the move by the Corporate Affairs Commission (CAC) to compel its members, largely Point of Sales (PoS) operators, to register with it by July 7 or face police harassment.
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