How to report POS agents charging over 200 naira for cash withdrawal – CBN

The Central Bank of Nigeria (CBN) has made public emergency telephone numbers to the public to officially report erring Point of Sales (POS) agents involved in the selling of new naira notes and those charging above regular fee for withdrawal.

The Director, CBN Governor’s Department, Mr Joseph Omayuku, made this known during a briefing with journalists in Yenagoa, Bayelsa State capital on Tuesday.
While warning syndicates engaging in illegal practices to desist forthwith, Omayuku advised members of the public to report erring PoS agents by reaching out to the CBN contact centre on 07002255226; Telephone Ext: 711025 – 7; contactcbn@cbn.gov.ng and its social media handles.

The scarcity of the new naira notes has been biting Nigerians so hard, with many rejecting the old notes as legal tender, while some state governors have resolved to sue the Federal Government for the challenges experienced in their respective states.

Despite the hardship with the redesign policy, there are still complaints of hitches in online payment platforms of banks leading to failed transactions.

Observers said the hitches occur because digital platforms are not strong enough to accommodate the surge of electronic transactions in recent times as people resort to online payments in response to the scarcity of cash. Those who reject online payments cite challenges associated with it as reasons.

The CBN official, however, countered the analogy, saying it is “not as bad as to warrant rejection of transfer payments.”
Meanwhile, Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele on Tuesday told the Diplomatic Corps that an extension of the February 10 deadline for the circulation of the redesigned N200, N500 and N1, 000 notes was unnecessary.

He blamed the scarcity of the new notes on the activities of some unscrupulous bankers and members of the society, who were trying to sabotage the policy, warning that such people would be sanctioned along with Point of Sales, POS, operators imposing heavy charges on customers.

The CBN governor said: “PoS agents who are supposed to help are getting involved in these activities.

‘’We have EFCC, ICPC working with our monitoring team to arrest any PoS agent that charges any fee because we have made it clear that whatever is their fee, which is not meant to be more than N200 for any amount you exchange that we, CBN, will pay as part of our effort to lessen the burden of this problem.”

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