The Central Bank of Nigeria (CBN) will meet with deposit money banks (DMBs), mobile money operators, and telecommunications companies in the coming days to address the excess withdrawal charges by Point of Sale (PoS) operators in the country.
The CBN Governor, Godwin Emefiele, stated this while briefing the media on the redesigned naira on Saturday in Lagos.
Following the scarcity of the new naira notes, PoS operators are now charging 10 percent of the amount a customer withdraws on the platform.
He said: “We have also noticed that some Nigerians are capitalising on the transition to charge exorbitant fees or demand cash payment on the false pretext that PoS doesn’t work, especially at petrol stations.
“These selfish actions for personal monetary gain are creating hardship for Nigerians and may come at the expense of fellow citizens’ lives and livelihood.”
The CBN governor said the apex bank might review upward the daily withdrawal limit from N20,000 in the future.
Emefiele urged Nigerians to remain calm and show more understanding as the country transits from old to new naira notes.
