The Central Bank of Nigeria (CBN) has set a daily withdrawal limit of N100,000 per customer on point-of-sale (PoS) terminals. The restriction, in line with the apex bank’s ongoing efforts to advance a cash-less economy, will help address identified challenges, combat fraud and establish uniform operational standards across the industry. The restriction was contained in…
The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (POS) operators to complete registration with the Corporate Affairs Corporation (CAC). This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday. Speaking at the event, the CAC…
An Ota Magistrates’ Court in Ogun, on Tuesday, sentenced a 22-year-old Point Of Sale, POS, operator, Salawudeen Ayomide, to three months imprisonment for stealing N120,000 belonging to her employer. The police charged Ayomide whose address was not provided with theft following her guilty plea. In her ruling, A. O. Adeyemi, gave the convict an option…
