POS Association Announce New Price List for POS Charges

The Association of Mobile Money and Bank Agents in Nigeria is giving some new updates to the price list of charges for POS transactions in the country. Public relations officer of the association, Stephen Adeoye, stopped by Channels News to reveal the new POS price list for charges, and also explained why these new charges are now coming to play. Here is what Stephen Adeoye said, as well as what the new POS price list is for charges.

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Speaking during his appearance on Channels TV, public relations officer of the Association of Mobile Money and Bank Agents In Nigeria, Stephen Adeoye said about the new price list:

STEPHEN ADEOYE: We have been thinking about spacing and pricing for a long time so it will make our work easier so that detractors will not cause problems for us in this business. Because anybody that handles POS and causes anything is just like when a finger is bad, it affects the rest. We have seen people come from different states and cause problem in another state. So we want to avoid all that. We want to clean our name, and that's why this price list has come out. At the same time, we want to make sure that we sanitize it in line with CBN regulations and other stake holders. Even the stakeholders also, we are calling them - those mobile money operators, so they co-operate with us. Because a mobile money operative will just give POS to anybody, but we know who are our members. So we have information for them so they will not be duped.

So, let me now read you the price list:

N1,000 - N2,400 is N100 for withdrawal.

N3,500 - N4,000 is N200

N4,100 - N6,400 is N300

N6,500 - 7,900 is N400

N8,000 - N10,900 is N500

N11,000 - N14,000 is N600

N14,500 - N17,900 is N700

N18,000 - N20,000 is N800 for withdrawal.

Depending on your location, you can also step it down for people depending on the circumstances but it should not go more than this. Then for deposit:

N1,000 - N4,900 is N100.

N5,000 - N10,900 is N200.

N11,000 - N20,900 is N300.

N21,000 - N30,900 is N400.

N31,000 - N40,000 is N500.

N41,000 - N50,000 is N600 for deposit or transfer.

What do you think about this new price list, and this new update for POS charges? Let me know your thoughts by leaving a comment either below or on my Jide Okonjo Facebook post.

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