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‘N500 per N10k’ — POS operators announce uniform fee structure for transactions in Lagos

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1 year ago

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The Lagos chapter of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), has announced a new price list for PoS transactions in the state.

In an interview on Channels Television on Friday, Stephen Adeoye, the spokesperson of the association, said the measure was put in place to deter fraud and curtail “agents who still overcharge.”

He said the uniform fee structure would prevent a recurrence of what happened during the cash scarcity period, where agents overcharged customers without any regulation.

For withdrawal, Adeoye said, agents in the state are now mandated to charge N100 for an amount between N1000 – N2,400; N200 for N3,500 to N4,000; and N300 for N4,100 to N6,400.

Adeoye said withdrawals from N6,500 to N7,900 will attract a fee of N400; while a charge of N500 will be for transactions from N8500 to N10,900.

Others are N600 for N11,000 to N14,000; N700 for N14,500 to N17, 900; and N800 for N18,000 to N2o,000 for withdrawal.

“Some still overcharge customers and we don’t want that. All of us want things to be easier for our customers and the country as a whole,” he said.

“That’s why we have brought out this list. Depending on your area, you can decide to lower it for your customers but it shouldn’t be more than the fees in the list.

“We expect agents to paste the fee structure in their locations. To enforce this is easier because we have a good relationship with the Lagos police command and very soon a task force will be set up to work along with the force.”

Adeoye added that for deposits and transfers, agents can now charge N100 for N1,000 to N4,900; N200 for N5000 to N10,900; N300 for N11,000 to N20,900; N400 for N21,000 to N30,900; N500 for N31,000 to N40,000; and N600 for N41,100 to N50,000.

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Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

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3 hours ago

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November 25, 2024 1:29 pm

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The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

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Business

Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers

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5 hours ago

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November 25, 2024 11:01 am

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The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.

This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.

The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.

Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

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Allegation of missing fund untrue, says Access Bank

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7 hours ago

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November 25, 2024 9:16 am

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Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.

The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.

“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.

“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.

“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.

“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.

“We remain committed to serving our customers.”

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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