Naira Scarcity: Reps Give Fresh Order To POS Operators
The House of Representatives on Thursday, December 21, passed a motion calling on Point-of-Sales (POS) operators in the country to stop selling naira notes.
The House also urged the operators to immediately remove excessive charges to customers across the country.
It mandated the Committees on Banking Regulations and, Digital and Electronic Banking to invite the Minister of Finance and National Planning and Budget and Governor of the Central Bank of Nigeria (CBN) to explain why commercial banks are not paying customers over the counter and ATMs.
These resolutions followed the adoption of a motion titled, “Need to Curb the Sale of Naira Notes by the Point-of-Sales (POS) operators in Nigeria” moved by Hon. Mohammed Dan Abba Shehu.
The House noted that the POS machine was invented and produced to alleviate the financial transaction hook-ups emanating from the Commercial Banks in Nigeria.
It also noted that financial transaction machines have significantly transformed the financial sector in the country by assisting the public in resolving banking challenges in Commercial Banks.
