An economist, Prof. Uche Uwaleke, has urged the Central Bank of Nigeria (CBN) to look into the new service charges on Point of Sale (PoS) trasactions by the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN). Uwaleke, Professor…
…As Nigerian banks lose N472m to fraudsters A report on fraud and forgeries in the Nigerian Banking System has revealed that fraud increased by 19.51 per cent in Q1 2023 bringing the figures to 1,985 cases from 1,661 cases in the…
The operatives of the Economic and Financial Crimes Commission (EFCC) in Akure South and Akure North Local Government Areas of Ondo State have arrested some Point of Sales (PoS) operators allegedly selling naira at a high prices. It was gathered…
Gov. Godwin Obaseki of Edo, has promised to support Point of Sales (PoS) agents so they can begin cash payment to residents across markets pending when the banks will reopen for business. Recall that that banks in Benin were on…
By Ismail Azeez, Osogbo Osun Police Command has warned Point of Sales (POS) operators and Filling Stations against the sale or abuse of the Naira notes issued by the Central Bank of Nigeria (CBN). The Command’s Spokesperson, SP Yemisi Opalola,…
The Association of Mobile Money and Bank Agents in Nigeria says over 50 per cent of Point of Sale operators have closed their shops as scarcity of new and old naira notes worsens. The National Chief Aggregating Officer of AMMBAN,…
Mr Dumebi Kachikwu, African Democratic Congress, ADC, presidential candidate, said the insufficient circulation of the new Naira notes posed great threats to the country’s peace. Kachikwu said this in a statement on Tuesday in Abuja. He said it was disheartening…
Traders at Central Market in Kaduna, have lamented the scarcity of the old and redesigned Naira notes, attributing it to the cause of low patronage in recent time. Speaking to news correspondent at the market on Wednesday, the traders said…
The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DMBs) in Zamfara, to release the new naira notes to Point of Sale (POS) operators or face sanction. The CBN Controller in the state, Alhaji Buhari Abbas gave the…
The Nigeria Security and Civil Defence Corps in Zamfara State has arrested a POS operator, simply identified as Mustapha, for allegedly hired by bandits for financial transactions. The Zamfara NSCDC Commandant, Muhammad Muazu, said Mustapha was arrested in Birnin Tsaba…
