BUSINESS DAY
The House of Representatives on Thursday warned the Point-of-Sales (POS) operators in the country to stop selling naira notes and remove excessive charges to customers nationwide immediately.
This is even as the House 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.
The resolutions followed adopting 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 urged the CBN to immediately commence proper monitoring and supervision of commercial banks’ activities daily to ascertain the extent of counterpayment to customers, noting that the POS machine was invented and produced to alleviate the financial transaction hook-ups emanating from the Commercial Banks in Nigeria.
