The National Public Relations Officer of the Association of Mobile Money and Bank Agents in Nigeria, Oluwasegun Elegbede, stated that their members do not have any plans to go back to the previous prices for their services.
Recently, PoS agents operating under the association declared an increase in the cost of PoS transaction charges and started implementing the new prices on Monday.
In response to this development, the Federal Competition and Consumer Protection Commission intervened and took action to prevent the implementation of the increased PoS transaction charges.
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 FCCPC’s Executive Vice Chairman/Chief Executive Officer, Babatunde Irukera, stated that the commission was prepared to issue a directive to prevent PoS operators from further pursuing their current course of action.
