The Association of Mobile Money and Bank Agents in Nigeria has said the recent increase in service charges was to ensure Point of Sale operators survive and remain in business.
Speaking with newsmen on Wednesday, the National Public Relations officer of the association, Oluwasegun Elegbede, stressed that surging inflation has negatively impacted the Cost to serve, adding that agency business has become unprofitable for its agents.
Elegbede noted that the increment attempt in Lagos, Ogun, and Edo states was a direct response to the current economic realities in the country, noting that the cost of production has increased significantly.
Recall that the proposed increment by Point of Sale, POS operators, had attracted reactions from the Central Bank of Nigeria and the Federal Competition and Consumer Protection Commission.
Credit: Punch Newspaper
