Point of Sale(PoS) agents in Lagos State will now charge consumers N500 for cash withdrawals of N10,000. This comes after the Public Relations Officer, Lagos Chapter, Stephen Adeoye, of the Association of Mobile Money and Bank Agents in Nigeria, unveiled a new price list for PoS transactions on Channels Television’s Business Morning show on Friday.
According to him, the purpose of the association’s pricing list is to eliminate price inconsistencies in the business.
He stated-
“Let me tell you the price list, N1000–N2,400 will be N100 for withdrawal. N3500 to N4000 will be N200; N4,100 to N6,400 will be N300; N6,500 to N7,900 will be N400; N8500 to N10,900 will be N500; N11,000 to N14,000 will be N600; N14,500 to N17,900 will be N700; N18,000 to N2000 will N800 for withdrawal.
“Like we said, depending on your location, you can also step it down for people depending on the circumstances. But it should not go more than this.”
He also added that for deposits and transfers, agents can now charge N100 for N1,000 to N4,900; N200 for N5000 to N10,900; N300 for N11,000 to N20,900; N400 for N21,000 to N30,900; N500 for N31,000 to N40,000; and N600 for N41,100 to N50,000.
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