IG Egbetokun
Point of Sales (POS) operators nationwide are on the warpath with government as they have vowed not to reverse the hike in their charges which began last Monday, no matter the pressure from any quarter.
The National Public Relations Officer (PRO), of the Association of Mobile Money and Bank Agents in Nigeria, organization of POS agents in the country, Oluwasegun Elegbede, has insisted its members have no intention to revert to old prices charged for services.
It would be recalled that PoS agents under the association recently announced increases in the cost of PoS transaction costs and began the implementation of the new prices on Monday.
But government had frowned at the move as the Federal Competition and Consumer Protection Commission, FCCPC moved to stop the PoS transaction charges.
In his reaction to FCCPC, Elegbede said: “What has the commission done to other price increases across other sectors? We are waiting for the enforcement or the sanction.
“We want to know if it is the commission that is funding us or giving us support? We need to ask them the right questions. What are they doing as regards other segments of the economy that are also increasing prices?”
Elegbede noted that the association’s new pricing regime was operational across the country. He noted the recent increase in fuel pump prices strengthened the resolve of PoS agents to stick to the new.
He said, “Our members have started adjusting their prices. Also, they got the rude shock that pump prices have jumped up. I know a few agents are concerned about what the FCCPC is saying, but before the end of the week, and judging by the increment in prices, many will join.
“Compliance is going on, and we are making sure it is. The implementation is national. Many states have confirmed that they have announced new rates, they may not have done it in the papers, but they have.”
The Executive Vice Chairman/Chief Executive Officer, FCCPC, Babatunde Irukera, in an interview had however confirmed that the commission was ready to issue an order to bar PoS from continuing with their action.
