vanbonattel:
Anything to limit or kill all the small businesses is what drug baron and his bunch of crooks wants.

POS money agent is nothing like a small business. It’s a disfunction that shouldn’t have existed in the first place.

If should only exist without bank abandoning their traditional function of money dispensing.

You can hardly get cash from the bank this days, you have to illegally buy cash from the so called POS agent. They are essentially selling the naira for a profit.

Oladimeji556:


https://www.google.com/amp/s/thenationonlineng.net/cbn-sets-n100000-daily-maximum-cash-out-limit-for-pos-operators/amp/

some times i wonder how this men get there?. All of them put together does not know that I can make same transfer of 500k to an POS and collect cash without my card.

jUeLiZ:
they will take the fight to Fintechs sooner...the goal is frustrate Nigerians and bring them to their knees....

Tinubu is clueless bastard. Nature will punish them for making Nigerians go through this kind hardship.....

God forbid bad thing

franugo:


You're capping bro. The limit is for card transactions, no limit will be placed on an agent's account for inflows

Does it mean I can not use my card to pay for a product worth more than 100,000 on POS terminal?

Solsix:
If not for opay and palmpay I don't know I will be managing. Tufiakwa

That's the purpose for this control. Nigerians must embrace e-payments and e-transactions. I rarely touch cash these days.

They keep shouting cashless policy, are they aware of how frustrating it is to do transaction through mobile banking?
So many failed transactions and some not even reversed.
Traders are already declining transfer when buy something from them, they tell you to withdraw from POS and pay them.

Behind every towering empire is a humble beginning. The key to success lies in starting with what you have, where you are. The most successful entrepreneurs didn’t wait for perfect conditions—they built their vision brick by brick. Start small but think big, because even the smallest step forward can ignite massive transformation.

Oladimeji556:


https://www.google.com/amp/s/thenationonlineng.net/cbn-sets-n100000-daily-maximum-cash-out-limit-for-pos-operators/amp/

Wow I love this
POS means point of sale the way we change d use in Nigeria it's something else
A POS operator can give you 20m if u want it but POS is actually made for payment in stores,big supermarket

temitope27:
so selling us our money is business to you

People that are not serious. They enjoy illegal activities and blame government for making policies to make things right.

owagbeba:


Does it mean I can not use my card to pay for a product worth more than 100,000 on POS terminal?

Yes, that's what it should imply

Know this about this cashless
It benefits customers no doubt, but benefits government immensely.
Every transaction you make , government takes its approved amount directly. Meaning more cashless transaction, more money government makes from bank customers. Assuming you withdraw 100k from your banks atm, nothing goes to government. But doing 10k cashless transactions 10 times, government charges you each time. It also benefits customers cos it reduces having to carry cash around and be exposed to criminals. It reduces germs you encounter as a result of handling money. The benefits to customers too is immense, let embrace it

vanbonattel:
Anything to limit or kill all the small businesses is what drug baron and his bunch of crooks wants.

I know that Tinubu is wicked but never knew that he is this anti-humans.
Surprisingly, his supporters don't anything wrong in his wicked policies. Nawa oo

Okoroawusa:

That's the purpose for this control. Nigerians must embrace e-payments and e-transactions. I rarely touch cash these days.

Since last week Friday nah only 10k I collected from a friend. I still have some change. Every other transaction nah transfer.

franugo:


You're capping bro. The limit is for card transactions, no limit will be placed on an agent's account for inflows

lol, laugh won kill me when i ready what he wrote,ppl sabi misinterprete thing with boldness...hahaha

OlujobaSamuel:

You can, but not as a POS agent.
You can only send such fund to those not running agent/merchant banking.
Anyone running a POS business won't be able to receive such fund as their personal account might be affected since they intend to use BVN for the tracking

Oga stop fooling yourself na,if na like that na him be say cbn no want fintech account to exist,u funny oo

millionboi2:
Oga stop fooling yourself na,if na like that na him be say cbn no want fintech account to exist,u funny oo

To ensure transparency and proper oversight, the CBN has directed that all agency banking activities be conducted exclusively through designated float accounts maintained by the agents’ principals. Furthermore, the operations of agency banking must be clearly separated from merchant activities, with agents required to use the approved Agent Code 6010 for transactions. Principals are also tasked with monitoring accounts associated with agents’ Bank Verification Numbers (BVNs) to detect and address activities conducted outside the designated float accounts.

All agent banking terminals must be connected to the Payment Terminal Service Aggregator (PTSA) to allow effective monitoring. Daily transaction details, including withdrawals and float account balances, are to be electronically submitted to the Nigeria Inter-Bank Settlement System (NIBSS) as part of the reporting process. The CBN will provide a standard reporting template to ensure consistency in the data submitted by agency banking operators.

From the 5th and 6th paragraph. The last statement of the 5th says transactions done outside the float accounts will be monitored through BVN, meaning account you control its activity attached to your BVN but not linked to your pos operations. So which account do you have control of if not your personal account?

Pacesetter123:

He is not.
No court of competent jurisdiction has ever convicted him of any financial crime.

Don't worry, he will be convicted as you already knew, he's going down. Courts are already forfeiting his stolen properties and money back to the FG, it is just a matter of time before he is finally sentenced.

You people were accusing him of causing cash scarcity thereby inflicting pains on the masses.
But Cardoso is even doing worse and the same you people are now applauding him.
That's hypocrisy of the highest order.

That tells you the level of the problem he foolishly created forever us.

OlujobaSamuel:


From the 5th and 6th paragraph. The last statement of the 5th says transactions done outside the float accounts will be monitored through BVN, meaning account you control its activity attached to your BVN but not linked to your pos operations. So which account do you have control of if not your personal account?

Rest

This is so that 50 can be removed for transaction of 10 thousand naira and above

They're limiting people's ability to escape failed banks.

Very silly policy , A bag of rice is sold in my area lowest 120k, how would one pay ?