FG to bar PoS agents from fixing new prices

FG to bar PoS agents from fixing new prices

The Federal Government through the Federal Competition and Consumer Protection Commission will be barring Point of Sale agents from increasing transaction charges across the country.

FCCPC’s Executive Vice Chairman/Chief Executive Officer, Babatunde Irukera disclosed this on Wednesday, July 19. He told Punch that the order would be issued in a couple of hours following its first advisory to the Association of Mobile Money and Bank Agents in Nigeria, which was initially ignored. 

Irukera told the publication that they are now ready for definitive enforcement of the order. He said; 

“What we did initially was to issue an advisory, which is part of the process — engagement. After which we would employ other tools of engagement. Other tools of enforcement involve issuing an order. If you hold on a little, you will see it. What we did initially was not an order, but very soon an order is coming.

“It will get to you in a matter of hours. An order is forthcoming and will be directed specifically at the association and the agents. Now, when there is a subsisting order, the violation of the order is what would precipitate enforcement.”

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