LAGOS JULY 2ND (NEWSRNAGERS)-A year and a few months after relief from the worst cash crunch in the modern economy, Nigeria appears to have slid into another dimension and created a new business from commoditising the national currency. As it was during the prolonged cash crunch that almost ruined the economy in the first quarter of last…
LAGOS MAY 12TH (NEWSRANGERS)-The News Agency of Nigeria reports that CAC had on Monday issued a two-month registration deadline to PoS operators to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria (CBN). The agents, who spoke to NAN in Abuja…
LAGOS MAY 7TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has set a deadline of July 7, 2024, for Point of Sales (PoS) operators to complete their registration with the Corporate Affairs Commission (CAC). The directive followed discussions held in Abuja between fintech representatives and Chief Executive Officer (CAC), Hussaini Magaji on Tuesday. During the meeting,…
LAGOS MARCH 26TH (NEWSRANGERS)-No fewer than 80 Point of Sales (PoS) agents, suspected to be buying and selling money to members of the public with higher interest have been arrested by operatives of the Economic and Financial Crimes Commission (EFCC), in Ondo state. Vanguard gathered that the officials of the commission carried out the exercise…
LAGOS FEBRUARY 15TH (NEWSRANGERS)-Amid the chaos surrounding the currency swap, the Central Bank of Nigeria, CBN, has vow to arrest and prosecute any Point of Sale, POS, operator or payment agents found to be selling Naira notes in the guise of transaction charges, warning that it is an economic crime and an imprsonable offence. According…
LAGOS JANUARY 25TH (NEWSRANGERS)-The old Naira notes have become out of use in Zamfara State as traders, business centres, marketers and even Point of Sale, POS, providers have been rejecting the notes since last week even though the deadline for their use has not expired. DAILY POST can authoritatively state that commercial banks in the…
LAGOS JULY 10TH (NEWSRANGERS)-The Police in Lagos State on Saturday warned Point of Sales (POS) operators against using their trade to promote extortion at police stations and other areas. The Command’s spokesperson, Benjamin Hundeyin, gave the warning on his Twitter handle, monitored by the News Agency of Nigeria (NAN). Mr Hundeyin, a superintendent of police,…
LAGOS FEBRUARY 4TH (NEWSRANGERS)-Armed bandits on Monday went on the rampage again in the Ogbor Hill area of Aba, Abia state, killing four more transaction point of sale (POS) outlet cashiers and carting away money stolen from them. This is coming barely three days after four armed robbers struck at a POS outlet along the…
