Tag
AMMBAN
When Chinyere, a petty trader in Lagos, tried to transfer N5,000 to her supplier using her bank’s USSD...
The prevalence of fraud and forgery in Nigeria's payment system has shown a significant shift in the first quarter of 2024, with Point-of-Sale (POS) transactions experiencing the highest increase in fraudulent activities.
The Corporate Affairs Commission (CAC) has extended by 60 days the deadline issued to Point of Sales (PoS) operators in Nigeria to register their businesses.
The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has said that the recently mandated registration of PoS operators in Nigeria is an attempt to tax more Nigerians to generate revenue for the government
The March 2024 figure indicated that a total of 864, 753 new PoS terminals have been deployed in the last one year.
The introduction of N50 stamp duty on individual transactions above N1000 has led to a reduction in the number of electronic payments.