The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has urged the Central Bank of Nigeria (CBN) and the Office of the Vice President, Kashim Shettima, to reconsider the recently introduced 5% charge on Point of Sale (PoS) transactions.
In a statement issued in Ibadan on Tuesday, the association expressed concerns that the new fee has significantly increased the financial burden on PoS operators across the country.
According to AMMBAN, PoS agents already face numerous operational challenges, including limited cash accessibility, which hampers their ability to provide essential financial services to the public.
The statement noted that PoS operators are not prioritized for cash allocation by banks or their principals, leaving many agents struggling to access cash despite being critical to Nigeria’s financial inclusion drive.
The association stated:
“Even when agents go to banks or their principals to get cash, they often face shortages.
This poses a major challenge, as agents are expected to deliver financial services without any form of support or funding. This unsustainable situation has left many agents struggling to stay afloat.”
Highlighting the economic pressures on PoS operators, AMMBAN emphasized that the 5% electronic fee compounds their difficulties, especially amid the current inflationary climate.
It called on the government to intervene and provide relief for agents who play a vital role in bridging the gap between formal banking institutions and underserved communities.
The association appealed for policy adjustments that would ease the burden on PoS operators and ensure their sustainability in providing financial services nationwide.
 has urged (CBN), to reconsider the recently introduced 5% charge on Point of Sale (PoS) transactions.){kind=link}