A new price list for Point of Sale (POS) transactions has been issued by the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN).
In an interview with Channels Television, Stephen Adeoye, the spokesman for the AMMBAN chapter in Lagos, provided details about the uniform price list for POS transactions.
He said:
“Let me tell you the price list, N1000 – N2,400 will be N100 for withdrawal. N3500 to N4000 will be N200; N4,100 to N6,400 will be N300; N6,500 to N7,900 will be N400; N8500 to N10,900 will be N500; N11,000 to N14,000 will be N600; N14,500 to N17, 900 will be N700; N18,000 to N20,000 will N800 for withdrawal.
“Like we said, depending on your location, you can also step it down for people depending on the circumstances. But it should not go more than this.”
He added that agents can now charge N100 for deposits and transfers between N1,000 and N4,900, N200 between N5,001 and N10,900, N300 between N11,001 and N20,900, N400 between N22,001 and N30,900, N500 between N3,001 and N40,000, and N600 between N41,100 and N50,000.
Adeoye claimed that David Abiodun, the association’s chairman for the Lagos chapter, recently gave excos access to the new price list at a symposium.
He explained that the list was created to stop agents from still overcharging their clients.
According to him:
“Although, we agreed that depending on one’s area, they can lower the charges. But it should not exceed these new charges. This is why we expect everyone to paste it in their locations so that customers can see it.
“To enforce this new price list is easy because we have a good relationship with the Lagos State Command, Police Force, and all the DPOs in the area. Very soon a task force will be set up in each zone so that they will work along with it.”