The Point of Sale (POS Operators) in Nigeria on Friday condemned the policy of the Central Bank of Nigeria ( CBN ) which pegged withdrawal of cash at N20,000 per day for individuals and N100, 000 for corporate bodies.
The group has petitioned the National Assembly and President Muhammadu Buhari over the policy of the CBN.
The group has revealed that the policy will affect the source of income and means of survival of 1.4million bank agent.
Victor Olojo, the National President of the Association of Mobile Money and Bank Agents in Nigeria, AMMBAN, told newsmen on Friday in Abuja, that over 1.4 million Nigerians will lose their means of survival of the CBN policy is not reversed or reviewed.
In the petition, dated 16th December , 2022, the operators of the POS appealed to the federal government to increase the withdrawal limit to N500, 000 per week for individuals and N3m for corporate bodies.
The National President said, “AMMBAN believes the cashless policy in its current state hasn’t provided for Mobile Money and Bank Agents in Nigeria adequately.
“Even as the CBN Governor made reference to the fact that Mobile Money and Bank Agents are spread across the country, is one of the reasons why he strongly feels the country is ready for the cashless policy, the document puts the jobs of over 1.4million agents on the line in its present state.
“This and many other germane reasons informed the decisions of the Association to engage the CBN, the National Assembly and other relevant stakeholders.
“This is to ensure that while we show support for the cashless policy of the government through the CBN, the policy should recognise the categorisation of Agents’ accounts as it does individuals and corporate entities.”