Legit on MSN11d
CBN report shows Nigerians favour PoS over ATMs for cash needs
A CBN report has shown that in the first half of 2024, Nigerians conducted transactions on POS terminals, far exceeding the ...
Premium Times8d
POS economy: How Nigeria’s banks and operators profit off cash scarcity, By Ayo Banjo
…here’s a plea to the CBN and the banks: fix this mess. The Nigerian economy cannot thrive on transfers alone – not when network failures are as common as political promises during election ...
The Punch Newspapers12d
2024 POS transactions surpassed ATM usage by 603% – CBN
This data, sourced from the Central Bank of Nigeria’s quarterly statistical bulletin, reflects a significant shift in consumer preferences as POS becomes the dominant payment method, and the ...
LEADERSHIP Newspaper1mon
Cash Scarcity: CBN Places N1.2m Limit on PoS Operators
the Central Bank of Nigeria(CBN) has moved to curb activities of banking agents popularly known as Point of Sale (PoS) operators. Despite the unavailability of cash at Automated Teller Machines ...
AllAfrica.com23d
Nigeria: CBN Sanctions 9 Banks for Failing to Dispense Cash At ATMs
The Central Bank of Nigeria (CBN) has sanctioned nine Deposit ... and rationing practices at bank branches and by Point-of-Sale (POS) operators. "The Central Bank is working with security agencies ...
INFORMATION NIGERIA1mon
CBN Introduces N100,000 Daily Withdrawal Limit On PoS Transactions
The Central Bank of Nigeria (CBN) has introduced a daily withdrawal limit on Point-of-Sale (PoS) terminals to N100,000 per customer. In a circular to all deposit money banks, microfinance banks ...