THE Central Bank of Nigeria (CBN) has threatened to prosecute point-of-sale (POS) operators who demand exorbitant charges on transactions. The CBN governor, Godwin Emefiele, issued the threat Tuesday at a meeting with members of the diplomatic corps.
Emefiele, who admitted challenges in the implementation of the naira redesign policy that he introduced, said the PoS operators that would be prosecuted are those who charge above the stipulated amount.
He said that while this is truly a challenging time for Nigerians, things should not be exaggerated, especially by people in authority to create panic.
Since the scarcity of the redesigned notes commenced following the new monetary policy, POS operators resorted to astronomical increase in their charges on transactions such that a withdrawal of N5,000 which they normally charge N100 has been raised to N1,000, while a N10,000 transaction now attracts N2,000.
