Merchants defy CBN’s directive on N50 PoS charge


Despite the directive of the Central Bank of Nigeria to merchants to stop the deduction of additional N50 on Point of Sales transactions, some outlets have yet to comply with the directive.

Our correspondent who monitored the rate of compliance with the directive observed that many of the filling stations and malls still charged the N50 PoS charge.

The Federal Competition and Consumer Protection Commission had on December 24 stopped the additional N50 charge imposed on transactions conducted through the PoS terminals.

In recent times, there had been significant contention over merchant-imposed N50 stamp duty on the PoS transactions.

The fee, which is said to have emanated from the CBN is meant to be for consumers who select the PoS option to conclude their purchases or transactions.

Findings by our correspondent on Thursday in some of the supermarkets and filling stations in Abuja revealed that customers were still being charged the additional N50 on every PoS transaction.

In some of the filling stations visited by our correspondent, it was observed that the attendants had yet to be directed to stop the additional charge.

One of the attendants in a filling station on Kubwa Road told our correspondent that his manager had not officially communicated the decision of the CBN stopping the additional fee to them.

He said, “Many of our customers that have been coming to buy fuel have complained that the government has stopped the N50 charge but we have to get official communication from our manager before we can stop the deduction.”

Another filling station on Airport Road that was visited by our correspondent had yet to stop the deduction of the additional N50 PoS charge.

The Chief Executive, FCCPC, Mr Babatunde Irukera, said the commission would focus more on a robust enforcement and wider consumer education this year.

He said if the commission could achieve its enforcement drive, the action would be able to rescue Nigerian consumers from exploitation by service providers.

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