Tinubu’s Government to Bar PoS Agents From Fixing New Prices

President Bola Ahmed Tinubu’s administration is set to issue an order against moves by Point of Sale (PoS) agents to hike transaction charges across the country.

Politics Nigeria reports that this will be done through the Federal Competition and Consumer Protection Commission (FCCPC).

The Executive Vice Chairman/Chief Executive Officer, Babatunde Irukera, disclosed this and said the order would be issued in a few hours.

He noted that following its first advisory to the Association of Mobile Money and Bank Agents in Nigeria, which was ignored, it is now ready for more definite enforcement.

He said:

“What we did initially was to issue an advisory, which is part of the process — engagement. After which, we would employ other tools of engagement. 

“Other tools of enforcement involve issuing an order. If you hold on a little, you will see it. What we did initially was not an order, but very soon, an order is coming.

“It will get to you in a matter of hours. An order is forthcoming and will be directed specifically at the association and the agents. Now, when there is a subsisting order, the violation of the order is what would precipitate enforcement.”

The FCCPC had recently announced that it was investigating price-fixing attempts by PoS agents and would sanction them if they were found guilty.

Recently, PoS agents, under the aegis of the Association of Mobile Money and Bank Agents in Nigeria, announced increments in the prices of their transaction charges. 

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