The Central Bank of Nigeria (CBN) has set a daily withdrawal limit on point-of-sale (PoS) terminals to N100,000 per customer. This was contained in a circular to all deposit money banks (DMBs), microfinance Banks, mobile money operators and super-agents, titled ‘Cash-out limits for agent banking transactions,’. The apex bank of Nigeria, CBN, said the restriction…
The federal government through the Corporate Affairs Commission (CAC) has warned Point of Sale (POS) operators in the Fintech sector and threatened to shut down those who fail to register their businesses. The CAC in a statement on Friday noted that the 60-day deadline for registration, which expired on September 5, 2024, has not been…
With today, September 5, 2024 being the deadline given by the Corporate Affairs Commission (CAC) for banking agents, known as Point of Sale (POS) operators to register their activities or face prosecution, the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has challenged the directive in court. Recall that the federal government through…