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POS Operators Lament as CBN Slashes Withdrawal Limits

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Following the CBN new directive on cash withdrawal limits on individuals and organisations, the Association of Mobile Money and Bank Agents of Nigeria National President, Victor Olojo, said Point-Of-Sale Operators would plan to protest as the policy was targeted at killing their source of livelihood.

Olojo who disclosed this to newsmen said the newly announced policy would have a negative impact on their business as it translates to the shutting down of POS terminals.

Speaking on the impact of the new policy on individuals and the economy, the President said it would be tough as Nigeria was still a cash-dominant society.

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