The Association Of Mobile Money and Bank Agents Of Nigeria which is the governing body of the Point Of Sales Operators (POS) across the country has hit out at the Central Bank of Nigeria (CBN) over the new limit placed on cash withdrawals.
CBN in the new policy restricted the total amount lawful for individuals to withdraw weekly to N100,000, while corporate organizations have their limits pegged at N500, 000 weekly.
Not in sync with this latest development, the POS operators across the federation led by the National President of AMMBAN, Mr. Victor Olojo, addressed journalists in the Federal capital territory a few minutes ago.
Ologo while making the petition said: “Even though the CBN Governor referred to the fact that Mobile Money and Bank Agents are spread across the country, which is one of the reasons why he strongly feels the country is ready for the cashless policy, the document puts the jobs of over 1.4m agents on the line in its present state.
“This and many other germane reasons informed the decisions of the Association to engage the CBN, the National Assembly, and other relevant stakeholders.
“This is to ensure that while we show support for the cashless policy of the government through the CBN, the policy should recognize the categorization of Agents’ accounts as it does individuals and corporate entities.”
It can be deduced from the body’s petition that they’ll like the maximum withdrawal limit to be improved to five hundred thousand naira weekly for individuals and three million naira for corporate bodies.
It’s now left to see if the Federal Government under the leadership of President Muhammadu Buhari will call for the suspension of the policy to save 1.4m bank agents from losing their means of livelihood.
