The Central Bank of Nigeria (CBN) has recently implemented a directive imposing a daily withdrawal limit of N100,000 for individuals, a policy aimed at fostering a cashless economy and curbing illicit financial activities.
The Vice-President, Sen. Kashim Shettima has urged Nigerian Deposit Money Banks (DMBs) to tackle the issue of exploitation of Nigerians by PoS operators, who are charging arbitrarily for cash.
Babajide Sanwo-Olu has appealed to the Corporate Affairs Commission (CAC) to simplify its registration process, especially for startups and small businesses that might struggle to pay registration fees.
The Corporate Affairs Commission (CAC) has stated that it is treating no less than 15,000 applications daily, including on weekends, for its fintech regularisation program.
The March 2024 figure indicated that a total of 864, 753 new PoS terminals have been deployed in the last one year.
The EFCC has accused banks of colluding with POS operators to limit cash availability at ATMs
The Corporate Affairs Commission (CAC) has opened a center dedicated to bulk registration of PoS operators in the country.
According to the CAC, the registrations is also in line with the legal requirements and the directives of the Central Bank of Nigeria (CBN).
The Central Bank of Nigeria has issued a warning against Deposit Money banks as well as Point of...
Perishable food traders in Nyanya, Karu, and Mararaba markets in Abuja, Nigeria, are among the groups most affected by the scarcity of Naira notes.
