CBN Issues Phone Number to Report PoS Operators Charging High Rate

CBN has issued a phone number to report PoS operators charging high rate.

 

NewsOnline reports that the Central Bank of Nigeria has issued steps, an emergency number, and an email address where Nigerians could report Point of Sales (PoS) operators selling, issuing, or charging higher than the approved rates.

 

This online newspaper understands that the Central Bank of Nigeria had pegged N200 for withdrawals of up to N10,000 and N100 for withdrawals of N5,000 and below

 

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Joseph Omayuku, the CBN Governors Director’s Department, warned syndicates engaging in the illegal and illicit practice of selling the naira notes and charging exorbitant costs to desist

 

He asked the public to report defaulting PoS agents by contacting CBN on 07002255226 and Telephone extension number 711025 via its email address: contactcbn@cbn.gov.ng.

 

CBN also advised Nigerians to use its social media handles to report PoS operators. Nigerians have reported that PoS operators have gone rogue and taken advantage of the naira scarcity to rip them off.

Some bank customers said that the operators charge as high as 300%, which is above the CBN rate.

 

A customer who spoke with LEGIT.NG said that Confidence Obiajulu said she was shocked when a PoS operator told her she would charge N700 for an N2000 withdrawal.

 

“I had no choice because the operator is the only person available at the time and in that place,” she said.

However, PoS operators blame the high charges on the scarcity of naira notes.