Agent banking service providers are protesting the introduction of the N50 charge imposed on individual transactions above N1,000 carried out by merchants in the country.
Some of them who spoke with The PUNCH correspondent said the volume of electronic payments carried out daily had reduced drastically as a result of the new policy.
The operators under the aegis of Association of Mobile Money and Bank Agents in Nigeria said bank customers who had been enjoying cashless transaction since the roll-out of agent banking had resorted to across-the-counter cash withdrawals.
It was gathered that some customers had started using ATM as an alternative means of cashing out, which they found to be more cost-effective.
Investigations by our correspondent on Wednesday indicated that many filling stations in Lagos and Ogun states had notified their customers of the N50 stamp duty charges on payment above N1,000 on the PoS terminals and web platforms, which they had started implementing.
But some supermarkets in Lagos have not commenced the implementation of the Central of Bank of Nigeria’s policy as their managements complained that it would affect patronage.
Source: PUNCH
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